LATAM Airlines Group (NYSE:LTM) Cut to “Strong Sell” at Zacks Research

LATAM Airlines Group (NYSE:LTM) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the company. The Goldman Sachs Group upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $63.40 price objective on the stock in a research report on Monday, April 13th. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $61.00 to $60.00 in a report on Thursday, March 26th. Barclays dropped their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, LATAM Airlines Group currently has a consensus rating of “Moderate Buy” and an average target price of $62.10.

LATAM Airlines Group Trading Down 2.3%

Shares of LATAM Airlines Group stock opened at $51.59 on Tuesday. The firm has a market capitalization of $15.59 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.42 and a beta of 3.93. The business’s 50-day moving average price is $52.34 and its 200-day moving average price is $52.13. LATAM Airlines Group has a 12 month low of $29.93 and a 12 month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.35 by $0.34. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. As a group, analysts predict that LATAM Airlines Group will post 5.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in LATAM Airlines Group by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company’s stock worth $24,226,000 after buying an additional 237,363 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in LATAM Airlines Group in the 3rd quarter worth approximately $2,262,000. Element Capital Management LLC purchased a new stake in LATAM Airlines Group in the 3rd quarter worth approximately $1,288,000. SPX Gestao de Recursos Ltda lifted its holdings in LATAM Airlines Group by 3,884.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after buying an additional 911,847 shares during the period. Finally, Monashee Investment Management LLC lifted its holdings in LATAM Airlines Group by 68.8% in the 3rd quarter. Monashee Investment Management LLC now owns 135,000 shares of the transportation company’s stock worth $6,109,000 after buying an additional 55,000 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.