LATAM Airlines Group (NYSE:LTM) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded LATAM Airlines Group from a "hold" to a "strong sell" in a report issued Tuesday.
• Other firms are more bullish — four analysts rate the stock a Buy, one Hold and one Sell, giving LATAM an average rating of “Moderate Buy” and a consensus target price of $62.10.
• LATAM recently beat quarterly estimates with $1.69 EPS vs. $1.35 expected and $3.95B revenue, while the stock traded around $51.59 with a 52-week range of $29.93–$70.42 (market cap ~$15.6B).

LATAM Airlines Group (NYSE:LTM - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Morgan Stanley upgraded LATAM Airlines Group from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $61.00 to $60.00 in a research note on Thursday, March 26th. Weiss Ratings reiterated a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Tuesday. Barclays decreased their target price on LATAM Airlines Group from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th. Citigroup upgraded LATAM Airlines Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Finally, The Goldman Sachs Group upgraded LATAM Airlines Group from a "neutral" rating to a "buy" rating and set a $63.40 target price on the stock in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LATAM Airlines Group presently has an average rating of "Moderate Buy" and a consensus target price of $62.10.

LATAM Airlines Group Stock Performance

NYSE:LTM opened at $51.59 on Tuesday. LATAM Airlines Group has a 52-week low of $29.93 and a 52-week high of $70.42. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.42 and a beta of 3.93. The business's fifty day moving average is $52.34 and its 200 day moving average is $52.13.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.34. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.81 billion. Equities analysts predict that LATAM Airlines Group will post 5.14 EPS for the current fiscal year.

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 246 shares during the last quarter. Leonteq Securities AG bought a new position in shares of LATAM Airlines Group during the 4th quarter valued at about $78,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group during the 2nd quarter valued at about $90,000. Rhumbline Advisers increased its position in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $129,000 after purchasing an additional 391 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.