LATAM Airlines Group (NYSE:LTM) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

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

LATAM Airlines Group Trading Down 1.0%

Shares of LATAM Airlines Group stock opened at $50.41 on Tuesday. The stock’s fifty day moving average price is $58.81 and its 200-day moving average price is $51.56. The firm has a market cap of $15.23 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.34 and a beta of 3.89. LATAM Airlines Group has a 12 month low of $26.36 and a 12 month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. Analysts forecast that LATAM Airlines Group will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On LATAM Airlines Group

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 246 shares in the last quarter. Leonteq Securities AG purchased a new position in LATAM Airlines Group during the fourth quarter worth approximately $78,000. Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group in the second quarter valued at approximately $90,000. Rhumbline Advisers increased its position in shares of LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LATAM Airlines Group by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after buying an additional 391 shares in 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.