Zacks Research upgraded shares of LATAM Airlines Group (NYSE:LTM – Free Report) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.
Several other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Tuesday, April 21st. Jefferies Financial Group started coverage on shares of LATAM Airlines Group in a report on Thursday, June 18th. They set a “buy” rating and a $70.00 price target for the company. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Finally, JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.27.
Check Out Our Latest Stock Analysis on LTM
LATAM Airlines Group Price Performance
LATAM Airlines Group (NYSE:LTM – Get Free Report) last posted its earnings results on Wednesday, May 6th. The transportation company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.66. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%.The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.96 billion. Equities analysts anticipate that LATAM Airlines Group will post 5.03 earnings per share for the current fiscal year.
Institutional Trading of LATAM Airlines Group
Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in LATAM Airlines Group by 11.2% during the 4th quarter. Morgan Stanley now owns 2,091,845 shares of the transportation company’s stock worth $112,981,000 after purchasing an additional 211,261 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of LATAM Airlines Group in the 4th quarter valued at $83,266,000. Arrowstreet Capital Limited Partnership increased its position in shares of LATAM Airlines Group by 248.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after buying an additional 1,058,554 shares during the period. Renaissance Technologies LLC increased its position in shares of LATAM Airlines Group by 184.9% during the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock worth $62,650,000 after buying an additional 822,400 shares during the period. Finally, Vanguard Group Inc. raised its stake in LATAM Airlines Group by 266.7% during the third quarter. Vanguard Group Inc. now owns 1,039,414 shares of the transportation company’s stock worth $47,033,000 after buying an additional 755,997 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.
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