LATAM Airlines Group (NYSE:LTM) Cut to “Hold” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of LATAM Airlines Group (NYSE:LTM) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Marketbeat reports.

Several other analysts also recently commented on LTM. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Barclays reissued an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.55.

LATAM Airlines Group Stock Down 2.6%

NYSE:LTM opened at $59.63 on Thursday. The stock’s 50 day moving average price is $58.34 and its 200 day moving average price is $50.23. The company has a market capitalization of $18.02 billion, a PE ratio of 11.97, a P/E/G ratio of 0.40 and a beta of 3.89. LATAM Airlines Group has a 52-week low of $26.36 and a 52-week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. As a group, sell-side analysts anticipate that LATAM Airlines Group will post 3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LTM. Farther Finance Advisors LLC increased its position in 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 purchasing an additional 246 shares during the period. Leonteq Securities AG purchased a new stake in shares of LATAM Airlines Group in the fourth quarter valued at approximately $78,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of LATAM Airlines Group by 761.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock valued at $88,000 after buying an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group during the second quarter worth $90,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in LATAM Airlines Group by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after acquiring an additional 391 shares in the last quarter.

LATAM Airlines Group Company Profile

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.