LATAM Airlines Group (NYSE:LTM) Raised to “Strong-Buy” at Zacks Research

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

Several other research analysts have also issued reports on LTM. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. The Goldman Sachs Group reissued a “buy” rating and set a $72.60 target price on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target on the stock. Jefferies Financial Group assumed coverage on LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target for the company. Finally, Citigroup raised LATAM Airlines Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $58.00 in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $66.27.

LATAM Airlines Group Trading Down 3.9%

NYSE LTM opened at $54.50 on Tuesday. The business’s 50-day moving average price is $52.19 and its two-hundred day moving average price is $54.22. LATAM Airlines Group has a 12 month low of $40.52 and a 12 month high of $70.42. The firm has a market capitalization of $15.65 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.34 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. As a group, analysts forecast that LATAM Airlines Group will post 5.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake 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 acquiring an additional 246 shares in the last quarter. Assetmark Inc. increased its stake in LATAM Airlines Group by 684.3% in the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,136 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of LATAM Airlines Group during the fourth quarter valued at about $78,000. GAMMA Investing LLC raised its holdings in shares of LATAM Airlines Group by 26.2% during the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 342 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group during the 2nd quarter worth about $90,000.

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.