Zacks Research Upgrades LATAM Airlines Group (NYSE:LTM) to Strong-Buy

LATAM Airlines Group (NYSE:LTM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on LTM. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Morgan Stanley raised shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price target on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group assumed coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, LATAM Airlines Group has an average rating of “Buy” and a consensus target price of $66.27.

LATAM Airlines Group Stock Down 3.9%

LTM opened at $54.50 on Tuesday. The firm has a market cap of $15.65 billion, a P/E ratio of 9.38, a PEG ratio of 1.34 and a beta of 3.61. LATAM Airlines Group has a 52 week low of $40.52 and a 52 week high of $70.42. The business’s fifty day simple moving average is $52.19 and its 200 day simple moving average is $54.22.

LATAM Airlines Group (NYSE:LTM) last released its earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.96 billion. As a group, equities analysts expect that LATAM Airlines Group will post 5.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in LATAM Airlines Group by 49.1% in the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 246 shares in the last quarter. Assetmark Inc. raised its position in shares of LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock worth $64,000 after buying an additional 1,136 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of LATAM Airlines Group during the 4th quarter worth about $78,000. GAMMA Investing LLC lifted its stake in shares of LATAM Airlines Group by 26.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock worth $96,000 after acquiring an additional 342 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter worth approximately $90,000.

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.