LATAM Airlines Group (NYSE:LTM) Reaches New 52-Week High – Time to Buy?

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price hit a new 52-week high on Friday . The stock traded as high as $52.72 and last traded at $52.4910, with a volume of 69145 shares. The stock had previously closed at $51.60.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LTM. Barclays set a $60.00 target price on shares of LATAM Airlines Group and gave the company an “overweight” rating in a report on Wednesday, November 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of LATAM Airlines Group in a report on Friday. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

LATAM Airlines Group Price Performance

The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.41 and a beta of 3.91. The business’s 50 day simple moving average is $45.10 and its 200 day simple moving average is $43.61.

Institutional Trading of LATAM Airlines Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTM. Arrowstreet Capital Limited Partnership lifted its position in LATAM Airlines Group by 248.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after acquiring an additional 1,058,554 shares during the period. Burkehill Global Management LP purchased a new stake in shares of LATAM Airlines Group during the third quarter worth approximately $42,988,000. SPX Gestao de Recursos Ltda lifted 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 worth $42,323,000 after purchasing an additional 911,847 shares during the period. Zimmer Partners LP acquired a new stake in shares of LATAM Airlines Group during the third quarter worth $37,331,000. Finally, Ghisallo Capital Management LLC grew its position in LATAM Airlines Group by 1,020.3% in the 3rd quarter. Ghisallo Capital Management LLC now owns 840,193 shares of the transportation company’s stock valued at $38,019,000 after buying an additional 765,193 shares during the last quarter.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.