Brokerages Set LATAM Airlines Group S.A. (NYSE:LTM) Target Price at $66.27

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $66.2667.

Several equities analysts have weighed in on the company. Morgan Stanley raised 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 research report on Thursday, March 26th. Jefferies Financial Group started coverage on shares of LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd.

LATAM Airlines Group Stock Down 2.2%

NYSE:LTM opened at $56.97 on Thursday. The stock’s fifty day moving average is $51.63 and its two-hundred day moving average is $54.11. LATAM Airlines Group has a 52 week low of $40.52 and a 52 week high of $70.42. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 1.44 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.66. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. On average, sell-side analysts expect that LATAM Airlines Group will post 4.82 EPS for the current fiscal year.

Institutional Trading of LATAM Airlines Group

A number of large investors have recently modified their holdings of LTM. Itau Unibanco Holding S.A. acquired a new stake in shares of LATAM Airlines Group in the fourth quarter valued at $83,266,000. Arrowstreet Capital Limited Partnership grew its stake in LATAM Airlines Group by 248.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after purchasing an additional 1,058,554 shares in the last quarter. Burkehill Global Management LP purchased a new stake in LATAM Airlines Group during the 3rd quarter worth about $42,988,000. SPX Gestao de Recursos Ltda increased its holdings in LATAM Airlines Group by 3,884.5% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock worth $42,323,000 after purchasing an additional 911,847 shares during the period. Finally, Zimmer Partners LP acquired a new stake in LATAM Airlines Group in the 3rd quarter valued at about $37,331,000.

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.