Zacks Research Downgrades LATAM Airlines Group (NYSE:LTM) to Hold

LATAM Airlines Group (NYSE:LTM) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, LATAM Airlines Group presently has a consensus rating of “Buy” and an average target price of $38.00.

LATAM Airlines Group Price Performance

Shares of LATAM Airlines Group stock opened at $45.25 on Monday. LATAM Airlines Group has a 1 year low of $24.38 and a 1 year high of $52.54. The firm has a market cap of $13.68 billion, a PE ratio of 11.63, a PEG ratio of 0.43 and a beta of 3.59. The company has a 50 day simple moving average of $46.08 and a two-hundred day simple moving average of $39.04.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in LATAM Airlines Group during the 2nd quarter valued at $17,317,000. Aubrey Capital Management Ltd raised its holdings in LATAM Airlines Group by 19.1% during the 2nd quarter. Aubrey Capital Management Ltd now owns 335,153 shares of the transportation company’s stock valued at $13,620,000 after buying an additional 53,753 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in LATAM Airlines Group by 562.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 331,959 shares of the transportation company’s stock valued at $13,491,000 after buying an additional 281,816 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in LATAM Airlines Group by 101.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company’s stock valued at $12,566,000 after buying an additional 155,553 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in LATAM Airlines Group during the 2nd quarter valued at $12,308,000.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.