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

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

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $72.60 price target on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. JPMorgan Chase & Co. started coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective for the company. Jefferies Financial Group initiated 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. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.27.

LATAM Airlines Group Price Performance

NYSE LTM opened at $50.62 on Monday. The firm has a market cap of $14.53 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.15 and a beta of 3.62. The stock’s 50-day moving average is $54.34 and its 200-day moving average is $53.33. LATAM Airlines Group has a one year low of $41.41 and a one year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. Equities analysts anticipate that LATAM Airlines Group will post 5.46 EPS for the current year.

Institutional Trading of LATAM Airlines Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in LATAM Airlines Group during the 1st quarter worth approximately $3,061,000. Goldman Sachs Group Inc. boosted its stake in shares of LATAM Airlines Group by 133.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock valued at $1,259,000 after purchasing an additional 23,044 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 1,700 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of LATAM Airlines Group during the second quarter worth $402,000. Finally, First Trust Advisors LP increased its position in shares of LATAM Airlines Group by 149.1% during the second quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock worth $2,809,000 after buying an additional 41,363 shares during the period.

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.