LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High – Still a Buy?

LATAM Airlines Group S.A. (NYSE:LTM) reached a new 52-week high on Monday . The company traded as high as $68.08 and last traded at $67.67, with a volume of 672109 shares. The stock had previously closed at $65.81.

Analysts Set New Price Targets

A number of research firms have recently commented 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $58.50 price objective on shares of LATAM Airlines Group in a report on Friday, December 5th. Barclays set a $60.00 price objective on shares of LATAM Airlines Group and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Zacks Research raised LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $59.25.

LATAM Airlines Group Stock Up 4.7%

The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.46 and a beta of 3.88. The stock has a 50 day moving average of $55.31 and a 200 day moving average of $48.74.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently bought and sold shares of LTM. Arrowstreet Capital Limited Partnership grew its holdings in shares of LATAM Airlines Group by 248.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock valued at $67,181,000 after purchasing an additional 1,058,554 shares during the last quarter. Vanguard Group Inc. grew its stake in LATAM Airlines Group by 266.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after buying an additional 755,997 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in LATAM Airlines Group by 87.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company’s stock worth $54,994,000 after buying an additional 474,593 shares during the last quarter. Two Sigma Investments LP increased its position in LATAM Airlines Group by 89.7% in the third quarter. Two Sigma Investments LP now owns 954,224 shares of the transportation company’s stock worth $43,179,000 after buying an additional 451,107 shares during the period. Finally, Burkehill Global Management LP bought a new stake in LATAM Airlines Group in the third quarter valued at $42,988,000.

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.