LATAM Airlines Group S.A. (NYSE:LTM) Receives $64.40 Consensus Target Price from Brokerages

LATAM Airlines Group S.A. (NYSE:LTM) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $65.52.

Several brokerages recently weighed in on LTM. Morgan Stanley upgraded LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $61.00 to $60.00 in a research report on Thursday, March 26th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. Zacks Research upgraded LATAM Airlines Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Barclays dropped their price objective on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th.

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in 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 purchasing an additional 246 shares in the last quarter. Assetmark Inc. increased its holdings in LATAM Airlines Group by 684.3% in the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,136 shares in the last quarter. Leonteq Securities AG acquired a new position in LATAM Airlines Group in the 4th quarter worth about $78,000. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group in the 2nd quarter worth about $90,000. Finally, Rhumbline Advisers increased its holdings in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,700 shares in the last quarter.

LATAM Airlines Group Stock Performance

LTM opened at $48.44 on Friday. The firm has a market cap of $13.91 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.37 and a beta of 3.62. LATAM Airlines Group has a 52-week low of $36.64 and a 52-week high of $70.42. The business’s fifty day moving average is $50.38 and its 200-day moving average is $53.32.

LATAM Airlines Group (NYSE:LTM) last released its earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.66. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. On average, research analysts predict that LATAM Airlines Group will post 4.22 earnings per share for the current fiscal year.

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.