LATAM Airlines Group (NYSE:LTM) Rating Lowered to “Hold” at Zacks Research

LATAM Airlines Group (NYSE:LTM) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on LTM. 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. Morgan Stanley reaffirmed an “equal weight” rating and issued a $67.00 target price (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Barclays reiterated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group set a $64.10 price objective on LATAM Airlines Group and gave the stock a “neutral” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, LATAM Airlines Group presently has an average rating of “Hold” and an average target price of $68.70.

LATAM Airlines Group Trading Down 1.0%

LTM opened at $50.41 on Tuesday. The company’s 50 day moving average is $58.81 and its 200 day moving average is $51.56. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.34 and a beta of 3.89. LATAM Airlines Group has a 12-month low of $26.36 and a 12-month high of $70.42.

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

Institutional Investors Weigh In On LATAM Airlines Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in shares of LATAM Airlines Group by 49.1% in the fourth 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. Leonteq Securities AG purchased a new position in LATAM Airlines Group during the fourth quarter valued at $78,000. Tower Research Capital LLC TRC purchased a new position in LATAM Airlines Group during the second quarter valued at $90,000. Rhumbline Advisers increased its holdings in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in LATAM Airlines Group by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 391 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.