LATAM Airlines Group (NYSE:LTM – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.
Several other equities analysts have also commented on LTM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Wall Street Zen lowered shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Jefferies Financial Group initiated coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a research note on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price for the company. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.27.
Read Our Latest Stock Report on LTM
LATAM Airlines Group Price Performance
LATAM Airlines Group (NYSE:LTM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.06 billion. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. As a group, sell-side analysts anticipate that LATAM Airlines Group will post 5.46 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position 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 worth $40,000 after buying an additional 246 shares during the last quarter. Assetmark Inc. increased its stake in shares of LATAM Airlines Group by 684.3% during the first quarter. Assetmark Inc. now owns 1,302 shares of the transportation company’s stock valued at $64,000 after buying an additional 1,136 shares during the period. Leonteq Securities AG bought a new position in shares of LATAM Airlines Group during the fourth quarter valued at approximately $78,000. GAMMA Investing LLC raised its holdings in shares of LATAM Airlines Group by 26.2% during the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 342 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in LATAM Airlines Group in the second quarter worth $90,000.
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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