LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High – Time to Buy?

LATAM Airlines Group S.A. (NYSE:LTM) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.58 and last traded at $58.6930, with a volume of 186128 shares. The stock had previously closed at $57.72.

Analysts Set New Price Targets

A number of research firms have weighed in on LTM. Barclays set a $60.00 target price on shares of LATAM Airlines Group and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $58.50 price target on shares of LATAM Airlines Group in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $59.25.

LATAM Airlines Group Trading Up 1.4%

The company has a market cap of $17.69 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 0.40 and a beta of 3.88. The stock’s 50-day moving average is $50.55 and its 200-day moving average is $46.72.

Institutional Trading of LATAM Airlines Group

Several large investors have recently made changes to their positions in LTM. Robeco Institutional Asset Management B.V. lifted its position in LATAM Airlines Group by 101.2% in 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 acquiring an additional 155,553 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of LATAM Airlines Group in the second quarter worth approximately $4,349,000. Public Employees Retirement System of Ohio purchased a new stake in shares of LATAM Airlines Group in the second quarter worth approximately $4,458,000. Kiker Wealth Management LLC bought a new position in shares of LATAM Airlines Group in the second quarter valued at approximately $1,459,000. Finally, Squarepoint Ops LLC purchased a new position in shares of LATAM Airlines Group during the second quarter valued at approximately $951,000.

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.