LATAM Airlines Group (NYSE:LTM) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded LATAM Airlines Group from hold to strong-buy, adding to a generally bullish analyst backdrop for the stock.
• Several other firms have recently turned positive on LTM, including Citigroup, Goldman Sachs, and Jefferies, with the consensus rating now at Buy and a consensus target price of $66.27.
• The company recently reported strong quarterly results, beating EPS and revenue estimates, while the stock was trading down 3.9% around $54.50 despite the favorable analyst sentiment.

LATAM Airlines Group (NYSE:LTM - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on LTM. Citigroup upgraded shares of LATAM Airlines Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $53.00 to $58.00 in a research note on Tuesday, March 17th. Wall Street Zen raised shares of LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. The Goldman Sachs Group restated a "buy" rating and issued a $72.60 price target on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group began coverage on LATAM Airlines Group in a research note on Thursday, June 18th. They set a "buy" rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $66.27.

LATAM Airlines Group Trading Down 3.9%

LATAM Airlines Group stock opened at $54.50 on Tuesday. The company's 50-day moving average is $52.19 and its two-hundred day moving average is $54.22. LATAM Airlines Group has a 1 year low of $40.52 and a 1 year high of $70.42. The company has a market cap of $15.65 billion, a PE ratio of 9.38, a PEG ratio of 1.34 and a beta of 3.61.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.66. LATAM Airlines Group had a net margin of 11.03% and a return on equity of 127.75%. The firm had revenue of $4.08 billion during the quarter, compared to analysts' expectations of $3.96 billion. Research analysts forecast that LATAM Airlines Group will post 5.03 EPS for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Large investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd bought a new position in LATAM Airlines Group in the 3rd quarter valued at approximately $2,262,000. Pictet Asset Management Holding SA bought a new stake in LATAM Airlines Group during the 4th quarter worth approximately $5,822,000. Element Capital Management LLC acquired a new position in LATAM Airlines Group in the 3rd quarter valued at approximately $1,288,000. UBS Group AG increased its position in LATAM Airlines Group by 8.1% in the 4th quarter. UBS Group AG now owns 610,678 shares of the transportation company's stock valued at $32,983,000 after acquiring an additional 45,607 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of LATAM Airlines Group by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 535,389 shares of the transportation company's stock valued at $24,226,000 after acquiring an additional 237,363 shares during the last quarter.

LATAM Airlines Group Company Profile

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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