LATAM Airlines Group (NYSE:LTM) Receives Equal Weight Rating from Morgan Stanley

LATAM Airlines Group (NYSE:LTM)‘s stock had its “equal weight” rating restated by Morgan Stanley in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $67.00 target price on the transportation company’s stock, up from their prior target price of $56.00. Morgan Stanley’s price objective points to a potential upside of 15.11% from the company’s previous close.

A number of other brokerages have also commented on LTM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Thursday, January 22nd. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Barclays reiterated an “overweight” rating and issued a $75.00 price objective (up previously from $60.00) on shares of LATAM Airlines Group in a research report on Thursday, February 5th. The Goldman Sachs Group set a $64.10 price objective on LATAM Airlines Group and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.70.

LATAM Airlines Group Trading Down 3.4%

LTM opened at $58.21 on Friday. The business has a 50 day moving average of $58.98 and a 200-day moving average of $50.65. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.40 and a beta of 3.89. LATAM Airlines Group has a 1-year low of $26.36 and a 1-year high of $70.42.

LATAM Airlines Group (NYSE:LTM) last released its earnings results on Tuesday, February 3rd. The transportation company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.35 by $0.34. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Equities analysts predict that LATAM Airlines Group will post 3.37 EPS for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in LATAM Airlines Group by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after purchasing an additional 198 shares during the last quarter. Blue Trust Inc. grew its position in shares of LATAM Airlines Group by 3.6% during the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after buying an additional 219 shares during the period. 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 valued at $40,000 after acquiring an additional 246 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in LATAM Airlines Group by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock worth $129,000 after acquiring an additional 391 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in LATAM Airlines Group by 39.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,028 shares of the transportation company’s stock worth $137,000 after acquiring an additional 858 shares during the last quarter.

LATAM Airlines Group Company Profile

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.