LATAM Airlines Group S.A. (NYSE:LTM) Receives $66.27 Average Target Price from Brokerages

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $66.2667.

LTM has been the topic of a number of analyst reports. Jefferies Financial Group started coverage on LATAM Airlines Group in a research note on Thursday, June 18th. They set a “buy” rating and a $70.00 target price on the stock. Wall Street Zen lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. The Goldman Sachs Group restated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a report on Tuesday, May 12th. JPMorgan Chase & Co. started coverage on LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th.

Institutional Investors Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in LATAM Airlines Group in the 1st quarter worth about $3,061,000. Goldman Sachs Group Inc. raised its stake in shares of LATAM Airlines Group by 133.9% during the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock valued at $1,259,000 after acquiring an additional 23,044 shares in the last quarter. Rhumbline Advisers raised its stake in shares of LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of LATAM Airlines Group in the second quarter valued at approximately $402,000. Finally, First Trust Advisors LP boosted its holdings in shares of LATAM Airlines Group by 149.1% in the second quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock valued at $2,809,000 after purchasing an additional 41,363 shares during the period.

LATAM Airlines Group Stock Performance

NYSE LTM opened at $50.48 on Friday. The business’s 50 day moving average price is $54.40 and its 200-day moving average price is $53.13. LATAM Airlines Group has a fifty-two week low of $41.41 and a fifty-two week high of $70.42. The company has a market cap of $14.49 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.13 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. As a group, equities analysts predict that LATAM Airlines Group will post 5.46 EPS for the current year.

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.