LATAM Airlines Group (NYSE:LTM) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded LATAM Airlines Group from “strong buy” to “hold,” although the broader analyst consensus remains “Buy” with an average price target of $66.27.
• LATAM reported quarterly EPS of $0.44, beating estimates of $0.41, while revenue reached $4.12 billion versus the $4.06 billion consensus forecast.
• The stock opened at $56.62, down 1.4%, with a market capitalization of $16.26 billion and a 52-week trading range of $41.41 to $70.42; several institutional investors recently increased their holdings.

LATAM Airlines Group (NYSE:LTM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a report released on Saturday.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $72.60 price target on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Zacks Research upgraded shares of LATAM Airlines Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. assumed coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an "overweight" rating and a $70.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Finally, 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 target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $66.27.

LATAM Airlines Group Stock Down 1.4%

Shares of NYSE:LTM opened at $56.62 on Friday. The company has a market capitalization of $16.26 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.16 and a beta of 3.62. LATAM Airlines Group has a 52-week low of $41.41 and a 52-week high of $70.42. The stock's fifty day simple moving average is $53.95 and its 200-day simple moving average is $53.92.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%.The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $4.06 billion. On average, sell-side analysts anticipate that LATAM Airlines Group will post 5.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LTM. Pictet Asset Management Holding SA acquired a new stake in shares of LATAM Airlines Group during the 4th quarter worth $5,822,000. UBS Group AG boosted its holdings in LATAM Airlines Group by 8.1% in the fourth quarter. UBS Group AG now owns 610,678 shares of the transportation company's stock valued at $32,983,000 after acquiring an additional 45,607 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in LATAM Airlines Group by 87.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,018,218 shares of the transportation company's stock valued at $54,994,000 after acquiring an additional 474,593 shares during the last quarter. Fundamenta Capital S.A. purchased a new stake in LATAM Airlines Group during the fourth quarter valued at about $14,987,000. Finally, U S Global Investors Inc. grew its position in LATAM Airlines Group by 89.1% during the fourth quarter. U S Global Investors Inc. now owns 151,613 shares of the transportation company's stock valued at $8,189,000 after acquiring an additional 71,429 shares during the period.

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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