LATAM Airlines Group (NYSE:LTM) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

LATAM Airlines Group S.A. (NYSE:LTM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.48 and traded as high as $54.18. LATAM Airlines Group shares last traded at $53.6550, with a volume of 600,306 shares changing hands.

Analyst Upgrades and Downgrades

LTM has been the topic of a number of analyst reports. Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.50 price objective on shares of LATAM Airlines Group in a research note on Friday, December 5th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, LATAM Airlines Group presently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

LATAM Airlines Group Stock Down 0.6%

The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.44 and a beta of 3.91. The company has a 50 day simple moving average of $48.31 and a 200-day simple moving average of $45.48.

Institutional Investors Weigh In On LATAM Airlines Group

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its stake in LATAM Airlines Group by 761.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock valued at $88,000 after purchasing an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at about $90,000. Rhumbline Advisers increased its position in 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 buying an additional 1,700 shares in the last quarter. Blue Trust Inc. increased its position in LATAM Airlines Group by 58.4% in the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock valued at $125,000 after buying an additional 1,138 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in LATAM Airlines Group by 392.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after buying an additional 2,330 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.