LATAM Airlines Group S.A. (NYSE:LTM) Receives Average Rating of “Buy” from Analysts

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $66.2667.

Several analysts have commented on LTM shares. The Goldman Sachs Group reissued a “buy” rating and issued a $72.60 price objective on shares of LATAM Airlines Group in a report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 target price on the stock. Wall Street Zen cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Finally, Jefferies Financial Group assumed coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price objective for the company.

LATAM Airlines Group Stock Down 0.2%

LTM stock opened at $52.35 on Friday. LATAM Airlines Group has a 52-week low of $41.41 and a 52-week high of $70.42. The firm has a market cap of $15.03 billion, a P/E ratio of 9.62, a PEG ratio of 1.15 and a beta of 3.62. The company’s 50-day simple moving average is $54.13 and its 200-day simple moving average is $53.63.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. On average, analysts anticipate that LATAM Airlines Group will post 5.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LATAM Airlines Group

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in LATAM Airlines Group during the 4th quarter worth approximately $83,266,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of LATAM Airlines Group by 248.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after acquiring an additional 1,058,554 shares during the last quarter. Burkehill Global Management LP acquired a new stake in shares of LATAM Airlines Group in the third quarter worth approximately $42,988,000. Zimmer Partners LP purchased a new stake in shares of LATAM Airlines Group during the third quarter worth approximately $37,331,000. Finally, Renaissance Technologies LLC raised its stake in LATAM Airlines Group by 184.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock valued at $62,650,000 after purchasing an additional 822,400 shares during the last quarter.

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.