LATAM Airlines Group (NYSE:LTM) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a research report released on Saturday morning.

A number of other equities research analysts also recently issued reports on LTM. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Jefferies Financial Group began coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target on the stock. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. assumed coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, LATAM Airlines Group presently has an average rating of “Buy” and an average target price of $66.27.

LATAM Airlines Group Trading Down 1.4%

Shares of NYSE LTM opened at $56.62 on Friday. LATAM Airlines Group has a one year low of $41.41 and a one year high of $70.42. The business has a 50-day moving average price of $53.95 and a two-hundred day moving average price of $53.92. The firm has a market capitalization of $16.26 billion, a PE ratio of 10.41, a PEG ratio of 1.14 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last issued its earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. Research analysts anticipate that LATAM Airlines Group will post 5.46 EPS for the current year.

Institutional Investors Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTM. AQR Capital Management LLC bought a new stake in LATAM Airlines Group during the first quarter worth approximately $3,061,000. Goldman Sachs Group Inc. lifted its stake in shares of LATAM Airlines Group by 133.9% in the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock worth $1,259,000 after buying an additional 23,044 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after buying an additional 1,700 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of LATAM Airlines Group during the 2nd quarter worth $402,000. Finally, First Trust Advisors LP boosted its holdings in shares of LATAM Airlines Group by 149.1% during the 2nd quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock worth $2,809,000 after buying an additional 41,363 shares during the period.

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.