LATAM Airlines Group (NYSE:LTM) Sets New 52-Week High – Here’s Why

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $52.86 and last traded at $52.6750, with a volume of 131357 shares. The stock had previously closed at $52.10.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LTM shares. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Barclays set a $60.00 price objective on shares of LATAM Airlines Group and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $58.50 target price on shares of LATAM Airlines Group in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.25.

LATAM Airlines Group Price Performance

The firm’s fifty day moving average is $45.63 and its two-hundred day moving average is $44.06. The firm has a market capitalization of $16.11 billion, a PE ratio of 12.70, a PEG ratio of 0.42 and a beta of 3.91.

Institutional Trading of LATAM Airlines Group

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its stake in LATAM Airlines Group by 761.1% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock valued at $88,000 after purchasing an additional 1,918 shares during the period. Tower Research Capital LLC TRC purchased a new stake in LATAM Airlines Group during the second quarter valued at about $90,000. Rhumbline Advisers lifted its stake in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of LATAM Airlines Group by 58.4% during the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock valued at $125,000 after buying an additional 1,138 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after buying an additional 2,330 shares during the period.

About LATAM Airlines Group

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.