Morgan Stanley Reiterates Equal Weight Rating for LATAM Airlines Group (NYSE:LTM)

LATAM Airlines Group (NYSE:LTM)‘s stock had its “equal weight” rating reissued by research analysts at Morgan Stanley in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $67.00 target price on the transportation company’s stock, up from their prior target price of $56.00. Morgan Stanley’s target price indicates a potential upside of 16.28% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Barclays reissued an “overweight” rating and set a $75.00 target price (up previously from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Finally, Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.70.

LATAM Airlines Group Stock Down 0.9%

Shares of NYSE:LTM opened at $57.62 on Friday. The firm has a market cap of $17.41 billion, a P/E ratio of 11.57, a P/E/G ratio of 0.39 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. The business has a fifty day simple moving average of $59.05 and a 200 day simple moving average of $50.80.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The firm 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 expect that LATAM Airlines Group will post 3.37 EPS for the current year.

Institutional Investors Weigh In On LATAM Airlines Group

Several hedge funds and other institutional investors have recently bought and sold shares of LTM. Squarepoint Ops LLC bought a new position in LATAM Airlines Group in the second quarter worth approximately $951,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of LATAM Airlines Group during the second quarter worth approximately $17,317,000. Y Intercept Hong Kong Ltd acquired a new position in shares of LATAM Airlines Group during the second quarter worth approximately $909,000. Marshall Wace LLP bought a new position in shares of LATAM Airlines Group in the 2nd quarter worth $12,308,000. Finally, Robeco Institutional Asset Management B.V. grew its position in LATAM Airlines Group by 75.8% in 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 purchasing an additional 234,412 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.