JPMorgan Chase & Co. Initiates Coverage on LATAM Airlines Group (NYSE:LTM)

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group (NYSE:LTM) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $70.00 price target on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 37.40% from the stock’s previous close.

Several other research firms have also weighed in on LTM. The Goldman Sachs Group reissued a “buy” rating and issued a $72.60 target price on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Zacks Research raised LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Morgan Stanley raised LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Finally, Barclays decreased their price objective on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.52.

LATAM Airlines Group Stock Performance

LATAM Airlines Group stock opened at $50.95 on Wednesday. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.43 and a beta of 3.62. LATAM Airlines Group has a fifty-two week low of $36.64 and a fifty-two week high of $70.42. The stock’s fifty day moving average is $50.32 and its two-hundred day moving average is $53.25.

LATAM Airlines Group (NYSE:LTM) last posted its earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.66. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. As a group, sell-side analysts forecast that LATAM Airlines Group will post 4.34 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

A number of hedge funds have recently added to or reduced their stakes in LTM. Farther Finance Advisors LLC raised its holdings in shares of LATAM Airlines Group by 49.1% in 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. Assetmark Inc. raised its holdings in shares of LATAM Airlines Group by 684.3% in the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,136 shares during the period. Leonteq Securities AG purchased a new position in shares of LATAM Airlines Group in the 4th quarter worth about $78,000. Tower Research Capital LLC TRC purchased a new position in shares of LATAM Airlines Group in the 2nd quarter worth about $90,000. Finally, Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,700 shares during the period.

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.