LATAM Airlines Group (NYSE:LTM) Sets New 12-Month High – Here’s Why

LATAM Airlines Group S.A. (NYSE:LTM)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $55.86 and last traded at $55.5390, with a volume of 115036 shares trading hands. The stock had previously closed at $54.58.

Analyst Ratings Changes

Several equities analysts recently commented on LTM shares. Zacks Research downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Barclays set a $60.00 price target on LATAM Airlines Group and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $58.50 target price on shares of LATAM Airlines Group in a research report on Friday, December 5th. Finally, Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, LATAM Airlines Group has a consensus rating of “Moderate Buy” and an average target price of $59.25.

LATAM Airlines Group Trading Up 1.8%

The stock’s 50-day moving average price is $49.07 and its 200-day moving average price is $45.94. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.38 and a beta of 3.88.

Institutional Investors Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently made changes to their positions in LTM. Robeco Institutional Asset Management B.V. lifted its holdings in shares of LATAM Airlines Group by 101.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company’s stock worth $12,566,000 after purchasing an additional 155,553 shares in the last quarter. U S Global Investors Inc. bought a new position in shares of LATAM Airlines Group in the second quarter valued at $4,349,000. Kiker Wealth Management LLC acquired a new position in shares of LATAM Airlines Group during the second quarter valued at about $1,459,000. Public Employees Retirement System of Ohio bought a new stake in shares of LATAM Airlines Group during the second quarter worth about $4,458,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter worth about $951,000.

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.