LATAM Airlines Group (NYSE:LTM) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

LATAM Airlines Group S.A. (NYSE:LTM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.25 and traded as high as $57.56. LATAM Airlines Group shares last traded at $56.0530, with a volume of 1,198,526 shares changing hands.

Analysts Set New Price Targets

LTM has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $64.10 price objective on shares of LATAM Airlines Group and gave the company a “neutral” rating in a research note on Thursday, February 12th. Barclays restated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.70.

LATAM Airlines Group Stock Performance

The stock has a market capitalization of $16.94 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.37 and a beta of 3.89. The business’s 50-day moving average price is $59.47 and its 200 day moving average price is $51.30.

LATAM Airlines Group (NYSE:LTM) last announced its earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.34. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. As a group, equities research analysts predict that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently bought and sold shares of LTM. Squarepoint Ops LLC purchased a new stake in LATAM Airlines Group during the second quarter valued at about $951,000. Y Intercept Hong Kong Ltd purchased a new position in shares of LATAM Airlines Group in the second quarter worth about $909,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at about $17,317,000. Marshall Wace LLP purchased a new stake in LATAM Airlines Group during the 2nd quarter valued at about $12,308,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in LATAM Airlines Group by 75.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 543,625 shares of the transportation company’s stock valued at $24,599,000 after acquiring an additional 234,412 shares during the period.

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.