Zacks Investment Research Upgrades Azul Sa (AZUL) to “Buy”

Azul Sa (NYSE:AZUL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $29.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.50% from the company’s previous close.

According to Zacks, “Azul SA is a holding company for the providers of airline passenger and cargo services. Azul SA is headquartered in Barueri, Brazil. “

A number of other research analysts have also issued reports on the company. BidaskClub lowered Azul Sa from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Buckingham Research restated a “buy” rating and set a $35.00 price objective (up previously from $33.00) on shares of Azul Sa in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Azul Sa presently has an average rating of “Buy” and a consensus price target of $32.00.

Azul Sa (NYSE AZUL) opened at $26.01 on Wednesday. Azul Sa has a 12-month low of $19.43 and a 12-month high of $29.43. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.70 and a quick ratio of 0.66.

Azul Sa (NYSE:AZUL) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.30. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. sell-side analysts anticipate that Azul Sa will post 0.88 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Azul Sa during the 3rd quarter valued at approximately $2,709,000. Bienville Capital Management LLC boosted its position in Azul Sa by 142.1% during the 3rd quarter. Bienville Capital Management LLC now owns 258,031 shares of the company’s stock worth $7,083,000 after acquiring an additional 151,442 shares during the period. Jane Street Group LLC acquired a new position in Azul Sa during the 3rd quarter worth $4,458,000. Oaktree Capital Management LP boosted its position in Azul Sa by 17.2% during the 3rd quarter. Oaktree Capital Management LP now owns 1,154,741 shares of the company’s stock worth $31,698,000 after acquiring an additional 169,100 shares during the period. Finally, ThornTree Capital Partners LP acquired a new position in Azul Sa during the 3rd quarter worth $13,094,000.

About Azul Sa

Azul SA is a Brazil-based company engaged in the provision of passenger transportation services. The Company primarily acts as an airline operator under the Azul brand name. The Company provides scheduled flights between numerous cities in Brazil, including Sao Paulo, Brasilia, Rio de Janeiro, Belo Horizonte, Porto Alegre, Curitiba, Manaus, Cuiaba, Fortaleza and Salvador, among others.

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