Barclays Has Lowered Expectations for LATAM Airlines Group (NYSE:LTM) Stock Price

LATAM Airlines Group (NYSE:LTM) had its target price lowered by equities research analysts at Barclays from $75.00 to $67.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective indicates a potential upside of 34.88% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the company a “neutral” rating in a research note on Thursday, February 12th. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $64.03.

LATAM Airlines Group Trading Up 1.3%

LTM stock opened at $49.67 on Tuesday. LATAM Airlines Group has a one year low of $26.36 and a one year high of $70.42. The firm has a market capitalization of $15.01 billion, a PE ratio of 9.97, a P/E/G ratio of 0.37 and a beta of 3.89. The firm has a 50-day moving average of $57.25 and a two-hundred day moving average of $51.47.

LATAM Airlines Group (NYSE:LTM) last released its earnings results 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. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, equities research analysts anticipate that LATAM Airlines Group will post 3.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of LATAM Airlines Group during the 4th quarter valued at $78,000. Tower Research Capital LLC TRC acquired a new position in shares of LATAM Airlines Group in the second quarter worth $90,000. Rhumbline Advisers increased its stake in shares of LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 391 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.