LATAM Airlines Group (NYSE:LTM) Hits New 12-Month High – Here’s Why

LATAM Airlines Group S.A. (NYSE:LTM) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.57 and last traded at $59.15, with a volume of 480786 shares. The stock had previously closed at $59.08.

Analyst Ratings Changes

Several research analysts have recently issued reports on LTM shares. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Wednesday, October 8th. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Barclays set a $60.00 target price on shares of LATAM Airlines Group and gave the company an “overweight” rating in a research note on Wednesday, November 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $58.50 price objective on shares of LATAM Airlines Group in a research report on Friday, December 5th. Finally, Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $59.25.

LATAM Airlines Group Stock Up 0.5%

The stock has a market capitalization of $17.95 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.41 and a beta of 3.88. The business has a fifty day moving average price of $52.00 and a 200-day moving average price of $47.33.

Institutional Trading of LATAM Airlines Group

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of LATAM Airlines Group by 761.1% during 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 purchasing an additional 1,918 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in LATAM Airlines Group in the 2nd quarter worth approximately $90,000. PNC Financial Services Group Inc. grew its position in LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock worth $132,000 after purchasing an additional 2,330 shares during the period. Blue Trust Inc. raised its stake in LATAM Airlines Group by 58.4% during the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock valued at $125,000 after buying an additional 1,138 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying 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.