Azul SA (NYSE:AZUL) dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as $37.64 and last traded at $37.98, approximately 722,669 shares changed hands during mid-day trading. An increase of 29% from the average daily volume of 559,077 shares. The stock had previously closed at $40.71.

AZUL has been the subject of several recent analyst reports. Deutsche Bank upped their target price on shares of Azul from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. UBS Group lowered shares of Azul from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 18th. Barclays set a $46.00 target price on shares of Azul and gave the stock a “hold” rating in a research note on Monday. Buckingham Research lowered shares of Azul from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $39.00 in a research note on Tuesday. Finally, Raymond James upped their target price on shares of Azul from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $39.51.

The company has a market cap of $13.49 billion, a P/E ratio of 23.89 and a beta of -0.65. The business’s 50-day moving average price is $38.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.65 and a current ratio of 0.69.

Azul (NYSE:AZUL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.69. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.59 billion. Azul had a net margin of 7.28% and a return on equity of 38.51%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, sell-side analysts forecast that Azul SA will post 2.02 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC grew its position in Azul by 237.7% during the first quarter. Quantamental Technologies LLC now owns 1,013 shares of the company’s stock valued at $30,000 after buying an additional 713 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Azul by 63.6% during the second quarter. Daiwa Securities Group Inc. now owns 900 shares of the company’s stock valued at $30,000 after purchasing an additional 350 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Azul during the second quarter valued at about $33,000. PNC Financial Services Group Inc. purchased a new stake in Azul during the first quarter valued at about $37,000. Finally, Northern Trust Corp purchased a new stake in Azul during the second quarter valued at about $216,000. Institutional investors own 6.86% of the company’s stock.

About Azul (NYSE: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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