LATAM Airlines Group (NYSE:LTM) Price Target Cut to $67.00 by Analysts at Barclays

LATAM Airlines Group (NYSE:LTM) had its price objective decreased by Barclays from $75.00 to $67.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on LTM. The Goldman Sachs Group set a $64.10 price target on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Zacks Research lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a research report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $64.03.

LATAM Airlines Group Stock Down 1.3%

NYSE LTM opened at $48.96 on Tuesday. The stock has a market cap of $14.80 billion, a PE ratio of 9.83, a P/E/G ratio of 0.33 and a beta of 3.89. LATAM Airlines Group has a fifty-two week low of $26.36 and a fifty-two week high of $70.42. The business has a 50 day moving average price of $57.39 and a two-hundred day moving average price of $51.48.

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

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors have recently modified their holdings of LTM. JPMorgan Chase & Co. grew its position in LATAM Airlines Group by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company’s stock worth $24,226,000 after purchasing an additional 237,363 shares during the last quarter. Element Capital Management LLC acquired a new stake in shares of LATAM Airlines Group in the third quarter valued at approximately $1,288,000. BlueCrest Capital Management Ltd bought a new stake in shares of LATAM Airlines Group during the third quarter valued at approximately $2,262,000. SPX Gestao de Recursos Ltda raised its holdings in shares of LATAM Airlines Group by 3,884.5% during the third quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock valued at $42,323,000 after buying an additional 911,847 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of LATAM Airlines Group during the second quarter worth approximately $951,000.

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.