Goldman Sachs Group downgraded shares of Azul (NYSE:AZUL) from a buy rating to a neutral rating in a report published on Monday, MarketBeat.com reports. They currently have $27.07 price objective on the stock.

AZUL has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Azul from a hold rating to a sell rating in a report on Thursday, September 27th. ValuEngine upgraded shares of Azul from a sell rating to a hold rating in a report on Wednesday, October 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Azul presently has an average rating of Buy and an average price target of $31.17.

AZUL stock opened at $24.79 on Monday. Azul has a 52-week low of $15.53 and a 52-week high of $35.05. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.12. The company has a market cap of $8.68 billion, a PE ratio of 16.31 and a beta of -1.58.

Several hedge funds have recently added to or reduced their stakes in AZUL. BlackRock Inc. grew its position in Azul by 108.6% during the second quarter. BlackRock Inc. now owns 15,886,707 shares of the company’s stock valued at $259,907,000 after purchasing an additional 8,270,402 shares in the last quarter. Capital Research Global Investors grew its position in Azul by 440.3% during the third quarter. Capital Research Global Investors now owns 7,542,415 shares of the company’s stock valued at $134,180,000 after purchasing an additional 6,146,415 shares in the last quarter. Victory Capital Management Inc. grew its position in Azul by 93.7% during the second quarter. Victory Capital Management Inc. now owns 3,559,417 shares of the company’s stock valued at $58,232,000 after purchasing an additional 1,721,756 shares in the last quarter. Nordea Investment Management AB purchased a new position in Azul during the third quarter valued at approximately $30,260,000. Finally, Federated Investors Inc. PA grew its position in Azul by 132.5% during the second quarter. Federated Investors Inc. PA now owns 2,846,150 shares of the company’s stock valued at $46,563,000 after purchasing an additional 1,621,850 shares in the last quarter. Institutional investors and hedge funds own 8.16% of the company’s stock.

About Azul

Azul SA provides passenger and cargo air transportation services in Brazil. As of March 31, 2018, it operated 739 daily flights to 106 destinations through a network of 206 non-stop routes with a fleet of 120 aircraft. The company was incorporated in 2008 and is headquartered in Barueri, Brazil.

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