LATAM Airlines Group (NYSE:LTM) Reaches New 12-Month High - Time to Buy?

Key Points

• LATAM Airlines Group reached a new 52-week high of $51.04, closing at $50.84 amid a trading volume of 734,948 shares.
• Wall Street Zen has downgraded the stock from a "strong-buy" to a "buy" rating, but it still holds a consensus rating of "Buy" with a price target of $39.00.
• Multiple institutional investors have significantly increased their positions in LATAM Airlines, with notable increases from Blue Trust Inc. (44.9%) and Caitong International Asset Management Co. Ltd (761.1%).

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $51.04 and last traded at $50.84, with a volume of 734948 shares traded. The stock had previously closed at $50.26.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $39.00.

LATAM Airlines Group Stock Down 1.7%

The business's 50-day moving average is $44.01 and its two-hundred day moving average is $37.14. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.50 and a beta of 3.59.

Institutional Investors Weigh In On LATAM Airlines Group

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of LATAM Airlines Group by 44.9% during the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock worth $61,000 after purchasing an additional 604 shares in the last quarter. Liontrust Investment Partners LLP boosted its stake in LATAM Airlines Group by 15.3% during the 2nd quarter. Liontrust Investment Partners LLP now owns 6,722 shares of the transportation company's stock valued at $273,000 after purchasing an additional 891 shares during the last quarter. Rhumbline Advisers raised its stake in LATAM Airlines Group by 113.8% in the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after acquiring an additional 1,700 shares during the period. Cubist Systematic Strategies LLC boosted its position in LATAM Airlines Group by 17.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 12,355 shares of the transportation company's stock valued at $341,000 after buying an additional 1,879 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in 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 valued at $88,000 after buying an additional 1,918 shares during the period.

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.