LATAM Airlines Group S.A. (NYSE:LTM) Receives Average Rating of “Moderate Buy” from Brokerages

LATAM Airlines Group S.A. (NYSE:LTM) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $66.2667.

LTM has been the subject of several recent research reports. Morgan Stanley raised LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Zacks Research raised shares of LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Finally, Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target on the stock.

LATAM Airlines Group Trading Up 2.3%

NYSE LTM opened at $57.02 on Thursday. LATAM Airlines Group has a 1-year low of $38.99 and a 1-year high of $70.42. The company has a market capitalization of $16.37 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.38 and a beta of 3.62. The firm’s fifty day simple moving average is $51.27 and its 200-day simple moving average is $53.89.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.66. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.96 billion. As a group, analysts predict that LATAM Airlines Group will post 4.82 EPS for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in shares of LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares during the last quarter. Assetmark Inc. increased its holdings in shares of LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,136 shares during the last quarter. Leonteq Securities AG bought a new position in shares of LATAM Airlines Group in the 4th quarter valued at approximately $78,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group in the 2nd quarter valued at approximately $90,000. Finally, Rhumbline Advisers lifted its holdings in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,700 shares during the last quarter.

LATAM Airlines Group Company Profile

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.