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

LATAM Airlines Group (NYSE:LTM) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on LTM. Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $64.10 price objective on shares of LATAM Airlines Group and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Barclays restated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 price target (up from $56.00) on shares of LATAM Airlines Group in a report on Friday, February 20th. Finally, Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LATAM Airlines Group presently has an average rating of “Hold” and an average price target of $68.70.

LATAM Airlines Group Price Performance

NYSE:LTM opened at $50.41 on Tuesday. The firm has a market capitalization of $15.23 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.34 and a beta of 3.89. The business has a 50 day simple moving average of $58.81 and a 200-day simple moving average of $51.56. 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 quarterly earnings results on Tuesday, February 3rd. The transportation company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.34. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%. As a group, analysts expect that LATAM Airlines Group will post 3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in LATAM Airlines Group by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company’s stock worth $24,226,000 after purchasing an additional 237,363 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at $951,000. SPX Gestao de Recursos Ltda lifted its holdings in shares of LATAM Airlines Group by 3,884.5% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock valued at $42,323,000 after purchasing an additional 911,847 shares during the last quarter. Monashee Investment Management LLC boosted its position in shares of LATAM Airlines Group by 68.8% in the 3rd quarter. Monashee Investment Management LLC now owns 135,000 shares of the transportation company’s stock worth $6,109,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in LATAM Airlines Group during the 2nd quarter worth $17,317,000.

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.