LATAM Airlines Group’s (LTM) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of LATAM Airlines Group (NYSE:LTM) in a research report report published on Friday, Marketbeat Ratings reports. Morgan Stanley currently has a $67.00 price objective on the transportation company’s stock, up from their prior price objective of $56.00.

LTM has been the topic of several other research reports. Barclays restated an “overweight” rating and issued a $75.00 price objective (up previously from $60.00) on shares of LATAM Airlines Group in a research note on Thursday, February 5th. The Goldman Sachs Group set a $64.10 target price on LATAM Airlines Group and gave the stock a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.70.

LATAM Airlines Group Trading Down 0.9%

NYSE LTM opened at $57.62 on Friday. The firm has a market capitalization of $17.41 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.38 and a beta of 3.88. The firm’s fifty day moving average price is $59.05 and its two-hundred day moving average price is $50.86. LATAM Airlines Group has a 1 year low of $26.36 and a 1 year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. On average, research analysts anticipate that LATAM Airlines Group will post 3.37 EPS for the current fiscal year.

Institutional Investors Weigh In On LATAM Airlines Group

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in LATAM Airlines Group by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock worth $169,000 after acquiring an additional 198 shares during the period. Blue Trust Inc. grew its position in shares of LATAM Airlines Group by 3.6% during the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after purchasing an additional 219 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of LATAM Airlines Group by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after purchasing an additional 391 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of LATAM Airlines Group by 39.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock valued at $137,000 after buying an additional 858 shares in the last quarter.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chilean-based airline holding company formed in 2012 through the merger of LAN Airlines of Chile and TAM Linhas Aéreas of Brazil. The Group offers passenger and cargo air transportation services across South America and beyond, operating under a multi‐brand strategy that encompasses several nationally recognized carriers. Headquartered in Santiago, Chile, LATAM is structured to serve diverse market segments with full-service, premium and low‐cost offerings.

The core business activities of LATAM Airlines Group include scheduled domestic and international passenger flights, air cargo services and maintenance, repair and overhaul (MRO) capabilities through its technical divisions.