LATAM Airlines Group (NYSE:LTM) Stock Rating Lowered by Wall Street Zen

LATAM Airlines Group (NYSE:LTM) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on LTM. Jefferies Financial Group initiated coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 target price on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $66.27.

LATAM Airlines Group Stock Performance

Shares of LATAM Airlines Group stock opened at $56.62 on Friday. The firm has a 50-day simple moving average of $53.95 and a two-hundred day simple moving average of $53.88. The company has a market cap of $16.26 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.25 and a beta of 3.62. LATAM Airlines Group has a fifty-two week low of $41.41 and a fifty-two week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. Equities research analysts forecast that LATAM Airlines Group will post 5.46 EPS for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of LATAM Airlines Group by 49.1% in 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 last quarter. Assetmark Inc. boosted its position in shares of LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,136 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of LATAM Airlines Group in the fourth quarter valued at about $78,000. GAMMA Investing LLC grew its holdings in shares of LATAM Airlines Group by 26.2% in the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 342 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in LATAM Airlines Group during the second quarter worth about $90,000.

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.