Azul (NYSE:AZUL) Shares Down 12% – Time to Sell?

Shares of Azul (NYSE:AZUL) dropped 12% during trading on Friday. The company traded as low as $7.01 and last traded at $6.9510. Approximately 585 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 170,366 shares. The stock had previously closed at $7.90.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AZUL shares. Weiss Ratings began coverage on shares of Azul in a report on Friday, July 10th. They set a “sell (d)” rating on the stock. Wall Street Zen lowered Azul from a “hold” rating to a “sell” rating in a research note on Tuesday, September 8th. Zacks Research raised Azul to a “strong sell” rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Azul in a report on Wednesday, September 9th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, BWS Financial reiterated a “buy” rating and set a $20.00 price objective on shares of Azul in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.50.

Azul Stock Down 2.7%

The stock has a 50-day moving average of $7.58.

Azul Company Profile

Azul SA is a Brazilian airline that provides scheduled passenger air transportation on domestic and international routes. The company serves cities throughout Brazil and connects the country with destinations in South America, the United States, Europe and other international markets.

Azul operates a diversified fleet designed for both regional and mainline service. In addition to passenger flights, its businesses include air cargo transportation through Azul Cargo Express, travel packages and related services through Azul Viagens, and a customer loyalty program known as Azul Fidelidade.

Founded in 2008 by aviation entrepreneur David Neeleman, Azul has focused on expanding air connectivity in Brazil, including service to locations with limited access to other forms of commercial air transportation.