LATAM Airlines Group (NYSE:LTM) Sets New 12-Month High – Here’s What Happened

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price reached a new 52-week high on Monday . The company traded as high as $55.86 and last traded at $55.5390, with a volume of 115036 shares traded. The stock had previously closed at $54.58.

Analyst Upgrades and Downgrades

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

LATAM Airlines Group Stock Performance

The firm has a market cap of $17.08 billion, a PE ratio of 13.49, a PEG ratio of 0.40 and a beta of 3.88. The company’s 50-day simple moving average is $49.56 and its two-hundred day simple moving average is $46.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LTM. Caitong International Asset Management Co. Ltd lifted its stake in LATAM Airlines Group by 39.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock worth $137,000 after acquiring an additional 858 shares during the period. Liontrust Investment Partners LLP raised its holdings in LATAM Airlines Group by 15.3% in the 2nd quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company’s stock worth $273,000 after purchasing an additional 891 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LATAM Airlines Group by 58.4% in the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock worth $125,000 after purchasing an additional 1,138 shares during the period. Rhumbline Advisers lifted its position in shares of LATAM Airlines Group by 37.6% in the 3rd quarter. Rhumbline Advisers now owns 4,394 shares of the transportation company’s stock worth $199,000 after purchasing an additional 1,200 shares during the period. Finally, Aubrey Capital Management Ltd boosted its stake in shares of LATAM Airlines Group by 0.4% during the 3rd quarter. Aubrey Capital Management Ltd now owns 336,653 shares of the transportation company’s stock valued at $15,234,000 after purchasing an additional 1,500 shares in 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.