LATAM Airlines Group (NYSE:LTM) Reaches New 12-Month High - What's Next?

Key Points

• LATAM Airlines Group's stock reached a new 52-week high of $44.76 during trading, closing at $44.64.
• Wall Street Zen upgraded the stock rating from "buy" to "strong-buy", contributing to a favorable consensus rating of "Buy" with an average price target of $38.00.
• The company's market capitalization is $13.57 billion, with key performance indicators showing a P/E ratio of 11.54 and a PEG ratio of 0.41.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.76 and last traded at $44.64, with a volume of 258145 shares changing hands. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, LATAM Airlines Group has a consensus rating of "Buy" and an average price target of $38.00.

LATAM Airlines Group Price Performance

The stock has a market capitalization of $13.57 billion, a P/E ratio of 11.54, a PEG ratio of 0.41 and a beta of 3.58. The company's 50 day simple moving average is $40.91 and its two-hundred day simple moving average is $35.16.

Institutional Trading of LATAM Airlines Group

Several hedge funds have recently modified their holdings of LTM. Blue Trust Inc. lifted its holdings in LATAM Airlines Group by 44.9% in the first 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 during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of LATAM Airlines Group by 761.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock worth $88,000 after acquiring an additional 1,918 shares during the period. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock worth $100,000 after acquiring an additional 1,700 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of LATAM Airlines Group during the second quarter worth $185,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of LATAM Airlines Group during the first quarter worth $182,000.

LATAM Airlines Group Company Profile

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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