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

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

LTM has been the topic of several other reports. Barclays dropped their price objective on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $61.00 to $60.00 in a research report on Thursday, March 26th. The Goldman Sachs Group raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 target price for the company in a research note on Monday, April 13th. Finally, Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $53.00 to $58.00 in a research note on Tuesday, March 17th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.10.

LATAM Airlines Group Trading Down 2.8%

Shares of LTM stock opened at $50.29 on Tuesday. The stock has a 50 day moving average of $52.12 and a 200 day moving average of $52.12. LATAM Airlines Group has a twelve month low of $29.95 and a twelve month high of $70.42. The stock has a market cap of $15.20 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.44 and a beta of 3.93.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, research analysts predict that LATAM Airlines Group will post 4.31 earnings per share for the current fiscal year.

Institutional Trading of LATAM Airlines Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of LATAM Airlines Group by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after buying an additional 198 shares during the period. Blue Trust Inc. lifted its stake in shares of LATAM Airlines Group by 3.6% in the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock valued at $336,000 after purchasing an additional 219 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in LATAM Airlines Group by 0.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company’s stock valued at $1,936,000 after buying an additional 239 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of LATAM Airlines Group by 19.6% during 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 acquiring an additional 391 shares during the last quarter.

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.