LATAM Airlines Group (NYSE:LTM) Downgraded to Buy Rating by Wall Street Zen

Key Points

• LATAM Airlines Group has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock.
• Other firms, including Zacks Research, have also downgraded LATAM Airlines, with an overall average rating now sitting at "Hold" and a target price of $38.00.
• Hedge fund activity indicates increased investment, with firms like Blue Trust Inc. and Caitong International Asset Management Co. significantly raising their positions in LATAM Airlines Group's stock.

LATAM Airlines Group (NYSE:LTM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on LTM. Zacks Research downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Weiss Ratings reissued a "hold (c)" rating on shares of LATAM Airlines Group in a report on Wednesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.00.

LATAM Airlines Group Stock Performance

Shares of LTM stock opened at $41.53 on Friday. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.42 and a beta of 3.60. The company has a 50-day simple moving average of $46.19 and a 200 day simple moving average of $39.53. LATAM Airlines Group has a 52 week low of $25.39 and a 52 week high of $52.54.

Hedge Funds Weigh In On LATAM Airlines Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of LATAM Airlines Group by 44.9% in the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock valued at $61,000 after buying an additional 604 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock worth $88,000 after purchasing an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in LATAM Airlines Group during the 2nd quarter worth approximately $90,000. Rhumbline Advisers increased its position in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock worth $100,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in LATAM Airlines Group during the 1st quarter worth approximately $182,000.

About LATAM Airlines Group

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.

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