LATAM Airlines Group (NYSE:LTM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $51.25 and traded as high as $57.56. LATAM Airlines Group shares last traded at $56.0530, with a volume of 1,198,526 shares trading hands.

Analyst Upgrades and Downgrades

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

LATAM Airlines Group Stock Performance

The stock’s fifty day simple moving average is $59.47 and its two-hundred day simple moving average is $51.25. The stock has a market capitalization of $16.94 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.38 and a beta of 3.89.

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

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds have recently made changes to their positions in LTM. Morgan Stanley boosted its holdings in LATAM Airlines Group by 11.2% in the fourth quarter. Morgan Stanley now owns 2,091,845 shares of the transportation company’s stock valued at $112,981,000 after acquiring an additional 211,261 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of LATAM Airlines Group in 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 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after purchasing an additional 1,058,554 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LATAM Airlines Group by 266.7% during the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after buying an additional 755,997 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of LATAM Airlines Group by 87.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company’s stock worth $54,994,000 after buying an additional 474,593 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.