JPMorgan Chase & Co. Initiates Coverage on LATAM Airlines Group (NYSE:LTM)

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group (NYSE:LTM) in a research report issued to clients and investors on Wednesday. The brokerage set an “overweight” rating and a $70.00 price target on the transportation company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 37.40% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $61.00 to $60.00 in a report on Thursday, March 26th. Zacks Research upgraded LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Citigroup upgraded LATAM Airlines Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $58.00 in a report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.52.

LATAM Airlines Group Price Performance

LATAM Airlines Group stock opened at $50.95 on Wednesday. The stock’s 50-day moving average is $50.32 and its 200-day moving average is $53.25. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.43 and a beta of 3.62. LATAM Airlines Group has a 12 month low of $36.64 and a 12 month high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. Research analysts anticipate that LATAM Airlines Group will post 4.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LTM. Farther Finance Advisors LLC boosted its position in LATAM Airlines Group by 49.1% during the 4th quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 246 shares during the period. Assetmark Inc. boosted its position in LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock worth $64,000 after acquiring an additional 1,136 shares during the period. Leonteq Securities AG acquired a new position in LATAM Airlines Group during the 4th quarter worth $78,000. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group during the 2nd quarter worth $90,000. Finally, Rhumbline Advisers boosted its position in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after acquiring 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.