LATAM Airlines Group SA (NYSE:LTM) Receives $10.46 Average PT from Brokerages

LATAM Airlines Group SA (NYSE:LTM) has earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $10.46.

LTM has been the topic of several research analyst reports. ValuEngine cut shares of LATAM Airlines Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of LATAM Airlines Group from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 12th. TheStreet cut shares of LATAM Airlines Group from a “c-” rating to a “d” rating in a research report on Tuesday, June 11th. Barclays initiated coverage on shares of LATAM Airlines Group in a research report on Monday, July 29th. They set an “equal weight” rating and a $11.00 price target on the stock. Finally, Goldman Sachs Group cut shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and boosted their price target for the company from $9.20 to $9.30 in a research report on Tuesday, July 2nd.

Shares of NYSE LTM traded down $0.27 during midday trading on Tuesday, hitting $8.92. 342,312 shares of the company traded hands, compared to its average volume of 252,170. LATAM Airlines Group has a 12-month low of $7.62 and a 12-month high of $12.30. The stock has a 50-day moving average price of $8.79 and a 200 day moving average price of $9.65. The firm has a market cap of $5.57 billion, a P/E ratio of 29.73 and a beta of 1.31.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings results on Tuesday, August 13th. The transportation company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. LATAM Airlines Group had a net margin of 0.81% and a return on equity of 2.29%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Sell-side analysts predict that LATAM Airlines Group will post 0.21 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its holdings in LATAM Airlines Group by 20.8% in the second quarter. US Bancorp DE now owns 11,676 shares of the transportation company’s stock worth $109,000 after purchasing an additional 2,013 shares during the period. Panagora Asset Management Inc. grew its holdings in LATAM Airlines Group by 15.2% in the second quarter. Panagora Asset Management Inc. now owns 22,914 shares of the transportation company’s stock worth $215,000 after purchasing an additional 3,016 shares during the period. Morgan Stanley grew its holdings in LATAM Airlines Group by 17.4% in the second quarter. Morgan Stanley now owns 23,526 shares of the transportation company’s stock worth $220,000 after purchasing an additional 3,488 shares during the period. Stone Ridge Asset Management LLC grew its holdings in LATAM Airlines Group by 18.8% in the second quarter. Stone Ridge Asset Management LLC now owns 22,439 shares of the transportation company’s stock worth $210,000 after purchasing an additional 3,548 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of LATAM Airlines Group by 5.3% in the second quarter. Royal Bank of Canada now owns 84,744 shares of the transportation company’s stock worth $795,000 after buying an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 2.46% of the company’s stock.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.

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Analyst Recommendations for LATAM Airlines Group (NYSE:LTM)

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