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

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research 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 brokerages that have covered the stock in the last year is $66.2667.

A number of research firms have recently commented on LTM. The Goldman Sachs Group reiterated a “buy” rating and issued a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Jefferies Financial Group initiated coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price on the stock. Barclays dropped their price target on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Finally, Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $53.00 to $58.00 in a report on Tuesday, March 17th.

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 fifty day simple moving average of $51.27 and a 200 day simple moving average of $53.89. The company has a market cap of $16.37 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.38 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last announced its earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. Equities research analysts forecast that LATAM Airlines Group will post 4.82 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in shares of LATAM Airlines Group by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock worth $169,000 after purchasing an additional 198 shares during the period. Blue Trust Inc. lifted its stake in shares of LATAM Airlines Group by 3.6% in the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock valued at $336,000 after buying an additional 219 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of LATAM Airlines Group by 0.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock valued at $1,936,000 after buying an additional 239 shares during the period. Farther Finance Advisors LLC grew its position in 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 buying an additional 246 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 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 buying 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.