LATAM Airlines Group (NYSE:LTM) Upgraded by Morgan Stanley to “Overweight” Rating

Morgan Stanley upgraded shares of LATAM Airlines Group (NYSE:LTM) from an equal weight rating to an overweight rating in a report released on Thursday, Marketbeat reports. Morgan Stanley currently has $60.00 target price on the transportation company’s stock, down from their prior target price of $61.00.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group set a $64.10 target price on LATAM Airlines Group and gave the company a “neutral” rating in a research note on Thursday, February 12th. Barclays decreased their price target on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday. Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Finally, Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.28.

LATAM Airlines Group Trading Down 2.0%

NYSE LTM opened at $48.64 on Thursday. LATAM Airlines Group has a 52 week low of $26.36 and a 52 week high of $70.42. The stock has a market cap of $14.70 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.37 and a beta of 3.89. The company has a 50-day moving average price of $57.04 and a two-hundred day moving average price of $51.45.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 246 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of LATAM Airlines Group in the 4th quarter worth approximately $78,000. Tower Research Capital LLC TRC acquired a new position in shares of LATAM Airlines Group in the 2nd quarter worth approximately $90,000. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of LATAM Airlines Group by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after purchasing an additional 391 shares in 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.