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

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $62.10.

Several brokerages recently commented on LTM. Morgan Stanley raised shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Zacks Research downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 price target on the stock in a report on Monday. Finally, Barclays dropped their price target on shares of LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th.

LATAM Airlines Group Stock Performance

Shares of LTM stock opened at $53.64 on Friday. LATAM Airlines Group has a one year low of $29.84 and a one year high of $70.42. The company’s 50-day moving average is $53.33 and its 200 day moving average is $51.80. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.43 and a beta of 3.93.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.69 EPS for the quarter, beating 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 company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, research analysts predict that LATAM Airlines Group will post 3.37 earnings per share for the current fiscal year.

Institutional Trading of LATAM Airlines Group

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of LATAM Airlines Group by 79.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company’s stock valued at $24,226,000 after acquiring an additional 237,363 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of LATAM Airlines Group in the third quarter worth approximately $2,262,000. Element Capital Management LLC purchased a new position in shares of LATAM Airlines Group in the third quarter worth approximately $1,288,000. SPX Gestao de Recursos Ltda boosted its holdings in shares of LATAM Airlines Group by 3,884.5% in the third quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after buying an additional 911,847 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of LATAM Airlines Group in the second quarter worth approximately $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.