LATAM Airlines Group (NYSE:LTM) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

LTM has been the subject of a number of other reports. Barclays reaffirmed 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. The Goldman Sachs Group set a $64.10 price target on shares of LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.70.

LATAM Airlines Group Stock Down 6.4%

Shares of NYSE LTM opened at $47.11 on Tuesday. LATAM Airlines Group has a twelve month low of $26.36 and a twelve month high of $70.42. The firm has a market cap of $14.24 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.34 and a beta of 3.89. The business has a fifty day simple moving average of $58.67 and a two-hundred day simple moving average of $51.53.

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

Institutional Trading of LATAM Airlines Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of LATAM Airlines Group by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock worth $169,000 after purchasing an additional 198 shares in the last quarter. Blue Trust Inc. increased its position in LATAM Airlines Group by 3.6% during the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock valued at $336,000 after buying an additional 219 shares in the last quarter. Farther Finance Advisors LLC increased its position in LATAM Airlines Group by 49.1% during the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in LATAM Airlines Group by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after buying an additional 391 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in LATAM Airlines Group by 24.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock valued at $204,000 after buying an additional 749 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.