LATAM Airlines Group (NYSE:LTM) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded LATAM Airlines Group from “strong buy” to “hold,” though the broader analyst consensus remains “Moderate Buy” with a $66.27 price target.
• LATAM shares opened at $50.62 and were reported down 3.2%, trading below both their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.44 in EPS versus $0.41 expected and $4.12 billion in revenue versus the $4.06 billion consensus estimate.

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

Other analysts have also issued reports about the company. Wall Street Zen lowered LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $72.60 price target on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Jefferies Financial Group began coverage on LATAM Airlines Group in a report on Thursday, June 18th. They issued a "buy" rating and a $70.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of LATAM Airlines Group in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. started coverage on shares of LATAM Airlines Group in a report on Wednesday, June 3rd. They set an "overweight" rating and a $70.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, LATAM Airlines Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.27.

LATAM Airlines Group Stock Down 3.2%

LTM opened at $50.62 on Monday. LATAM Airlines Group has a twelve month low of $41.41 and a twelve month high of $70.42. The company's 50-day moving average price is $54.34 and its two-hundred day moving average price is $53.33. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 1.15 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.06 billion. As a group, sell-side analysts anticipate that LATAM Airlines Group will post 5.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of LATAM Airlines Group by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company's stock valued at $169,000 after acquiring an additional 198 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of LATAM Airlines Group by 0.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company's stock worth $1,936,000 after buying an additional 239 shares during the last quarter. Farther Finance Advisors LLC increased its holdings 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. GAMMA Investing LLC raised its position in shares of LATAM Airlines Group by 26.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company's stock valued at $96,000 after buying an additional 342 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 391 shares in the last quarter.

About LATAM Airlines Group

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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