LATAM Airlines Group (NYSE:LTM) Reaches New 52-Week High - Here's What Happened

Key Points

• The LATAM Airlines Group's share price reached a new 52-week high of $43.10, closing at $42.75 with a trading volume of 519,160 shares.
• Wall Street analysts have downgraded LATAM Airlines from a "strong-buy" to a "buy" rating, with a consensus price target of $38.00.
• In its last quarterly report, LATAM Airlines posted an EPS of $1.18, significantly surpassing the consensus estimate of $0.61.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $43.10 and last traded at $42.75, with a volume of 519160 shares changing hands. The stock had previously closed at $41.38.

Wall Street Analysts Forecast Growth

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

LATAM Airlines Group Stock Down 1.4%

The company has a market capitalization of $12.94 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.43 and a beta of 3.58. The firm's 50 day simple moving average is $40.18 and its 200 day simple moving average is $34.29.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its earnings results on Tuesday, April 29th. The transportation company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.57. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.39 billion. LATAM Airlines Group had a net margin of 8.79% and a return on equity of 143.14%. As a group, sell-side analysts predict that LATAM Airlines Group S.A. will post 3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new stake in shares of LATAM Airlines Group during the 4th quarter worth approximately $1,754,597,000. Deutsche Bank AG lifted its position in shares of LATAM Airlines Group by 24.5% during the fourth quarter. Deutsche Bank AG now owns 2,035,000 shares of the transportation company's stock worth $56,125,000 after purchasing an additional 400,000 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of LATAM Airlines Group by 105.9% during the fourth quarter. Farallon Capital Management LLC now owns 618,469 shares of the transportation company's stock worth $17,057,000 after purchasing an additional 318,092 shares during the last quarter. Aubrey Capital Management Ltd purchased a new stake in shares of LATAM Airlines Group during the first quarter valued at $8,802,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of LATAM Airlines Group by 101.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company's stock worth $12,566,000 after purchasing an additional 155,553 shares during the last quarter.

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.