LATAM Airlines Group (NYSE:LTM) Sets New 52-Week High – Still a Buy?

LATAM Airlines Group S.A. (NYSE:LTM) hit a new 52-week high on Tuesday . The company traded as high as $59.57 and last traded at $59.15, with a volume of 480786 shares. The stock had previously closed at $59.08.

Analyst Ratings Changes

Several research analysts have recently commented on LTM shares. Barclays set a $60.00 price objective on LATAM Airlines Group and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a report on Wednesday, October 8th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $58.50 target price on shares of LATAM Airlines Group in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, LATAM Airlines Group has a consensus rating of “Buy” and a consensus price target of $59.25.

LATAM Airlines Group Trading Up 0.5%

The company has a market cap of $17.95 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.41 and a beta of 3.88. The company’s fifty day moving average is $52.00 and its 200 day moving average is $47.33.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. raised its stake in shares of LATAM Airlines Group by 101.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company’s stock valued at $12,566,000 after acquiring an additional 155,553 shares during the last quarter. U S Global Investors Inc. bought a new position in LATAM Airlines Group during the 2nd quarter valued at approximately $4,349,000. Kiker Wealth Management LLC purchased a new stake in shares of LATAM Airlines Group in the 2nd quarter worth about $1,459,000. Public Employees Retirement System of Ohio purchased a new stake in shares of LATAM Airlines Group in the 2nd quarter worth about $4,458,000. Finally, Squarepoint Ops LLC purchased a new position in shares of LATAM Airlines Group during the second quarter valued at about $951,000.

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.