LATAM Airlines Group (NYSE:LTM) Sets New 1-Year High - Here's Why

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 share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.76 and last traded at $44.64, with a volume of 258145 shares trading hands. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

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

LATAM Airlines Group Trading Up 2.4%

The stock's 50-day moving average price is $41.36 and its two-hundred day moving average price is $35.60. The stock has a market capitalization of $13.66 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.43 and a beta of 3.58.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of 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. Rhumbline Advisers boosted its position in 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 purchasing an additional 1,700 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of LATAM Airlines Group by 17.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 12,355 shares of the transportation company's stock worth $341,000 after purchasing an additional 1,879 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of LATAM Airlines Group by 761.1% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock valued at $88,000 after purchasing an additional 1,918 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of LATAM Airlines Group by 12.6% during the 2nd quarter. Engineers Gate Manager LP now owns 18,668 shares of the transportation company's stock valued at $759,000 after buying an additional 2,082 shares in the last quarter.

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.