LATAM Airlines Group (NYSE:LTM) Price Target Lowered to $67.00 at Barclays

LATAM Airlines Group (NYSE:LTM) had its price objective cut by stock analysts at Barclays from $75.00 to $67.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price would indicate a potential upside of 35.45% from the stock’s current price.

Several other analysts have also recently weighed in on LTM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Citigroup raised shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Morgan Stanley restated an “equal weight” rating and issued a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, LATAM Airlines Group currently has an average rating of “Hold” and an average target price of $64.03.

LATAM Airlines Group Trading Down 0.3%

LTM traded down $0.15 on Tuesday, hitting $49.47. 98,507 shares of the company were exchanged, compared to its average volume of 1,505,786. The firm has a 50-day moving average price of $57.58 and a two-hundred day moving average price of $51.49. LATAM Airlines Group has a twelve month low of $26.36 and a twelve month high of $70.42. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.32 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. Equities analysts expect that LATAM Airlines Group will post 3.37 EPS for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in LATAM Airlines Group during the first quarter worth approximately $3,061,000. Goldman Sachs Group Inc. boosted its holdings in shares of LATAM Airlines Group by 133.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock valued at $1,259,000 after buying an additional 23,044 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $100,000 after buying an additional 1,700 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of LATAM Airlines Group in the 2nd quarter valued at $595,000. Finally, JPMorgan Chase & Co. grew its position in shares of LATAM Airlines Group by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 298,026 shares of the transportation company’s stock valued at $12,112,000 after buying an additional 11,929 shares during the last quarter.

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.