LATAM Airlines Group (NYSE:LTM) Hits New 52-Week High – Time to Buy?

LATAM Airlines Group S.A. (NYSE:LTM) shares hit a new 52-week high during trading on Monday . The stock traded as high as $64.43 and last traded at $64.8260, with a volume of 62514 shares trading hands. The stock had previously closed at $63.62.

Analysts Set New Price Targets

LTM has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday. Barclays set a $60.00 target price on shares of LATAM Airlines Group and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Zacks Research raised LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $58.50 target price on shares of LATAM Airlines Group in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $59.25.

LATAM Airlines Group Stock Performance

The company’s 50 day simple moving average is $53.35 and its 200 day simple moving average is $47.90. The stock has a market cap of $19.38 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.45 and a beta of 3.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in 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 purchasing an additional 219 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 246 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in LATAM Airlines Group by 39.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock worth $137,000 after purchasing an additional 858 shares in the last quarter. Liontrust Investment Partners LLP boosted its stake in LATAM Airlines Group by 15.3% during the second quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company’s stock valued at $273,000 after buying an additional 891 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of LATAM Airlines Group by 37.6% during the 3rd quarter. Rhumbline Advisers now owns 4,394 shares of the transportation company’s stock valued at $199,000 after acquiring an additional 1,200 shares during 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.