LATAM Airlines Group (NYSE:LTM) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

LTM has been the subject of several other reports. The Goldman Sachs Group reissued a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a report on Tuesday, May 12th. JPMorgan Chase & Co. began coverage on shares of LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group started coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.27.

LATAM Airlines Group Trading Down 3.2%

LATAM Airlines Group stock opened at $50.62 on Monday. The stock has a market cap of $14.53 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 1.15 and a beta of 3.62. The stock has a 50 day moving average of $54.34 and a 200-day moving average of $53.33. LATAM Airlines Group has a 52 week low of $41.41 and a 52 week high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. As a group, equities analysts predict that LATAM Airlines Group will post 5.46 earnings per share for the current fiscal year.

Institutional Trading of LATAM Airlines Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in shares of LATAM Airlines Group in the 1st quarter worth about $3,061,000. Goldman Sachs Group Inc. grew its position in shares of LATAM Airlines Group by 133.9% during 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 during the last quarter. Rhumbline Advisers grew its position in shares of LATAM Airlines Group by 113.8% during 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 during the last quarter. Quantbot Technologies LP acquired a new stake in LATAM Airlines Group during the second quarter worth about $402,000. Finally, First Trust Advisors LP raised its stake in LATAM Airlines Group by 149.1% during the second quarter. First Trust Advisors LP now owns 69,108 shares of the transportation company’s stock worth $2,809,000 after acquiring an additional 41,363 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.