LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High – Here’s Why

LATAM Airlines Group S.A. (NYSE:LTM)’s share price reached a new 52-week high on Monday . The stock traded as high as $68.08 and last traded at $67.67, with a volume of 672109 shares changing hands. The stock had previously closed at $65.81.

Analysts Set New Price Targets

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

LATAM Airlines Group Price Performance

The company has a market cap of $19.37 billion, a P/E ratio of 15.30, a PEG ratio of 0.48 and a beta of 3.89. The stock has a 50-day moving average of $56.18 and a 200 day moving average of $49.11.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Friday, February 6th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.33. LATAM Airlines Group had a net margin of 8.99% and a return on equity of 136.76%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.81 billion. Sell-side analysts predict that LATAM Airlines Group S.A. will post 3.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LTM. Blue Trust Inc. lifted its stake in LATAM Airlines Group by 3.6% during the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after purchasing an additional 219 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of LATAM Airlines Group by 49.1% during the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LATAM Airlines Group by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted 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 valued at $137,000 after buying an additional 858 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its position in LATAM Airlines Group by 15.3% in the second quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company’s stock valued at $273,000 after acquiring an additional 891 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.