LATAM Airlines Group S.A. (NYSE:LTM) Given Average Recommendation of "Buy" by Brokerages

Key Points

• LATAM Airlines Group has a consensus analyst rating of Buy from eight brokerages, with an average 12-month price target of about $66.27.
• Recent analyst actions have been mostly positive, including upgrades and overweight/buy ratings from firms like JPMorgan, Goldman Sachs, and Wall Street Zen, though Weiss Ratings kept a hold view and Barclays trimmed its target.
• The company recently posted strong quarterly results, reporting $2.01 EPS versus expectations of $1.35 and revenue of $4.08 billion versus estimates of $3.96 billion.

LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) has earned a consensus recommendation of "Buy" from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $66.2667.

A number of equities analysts recently commented on LTM shares. Wall Street Zen raised LATAM Airlines Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. initiated coverage on shares of LATAM Airlines Group in a research report on Wednesday, June 3rd. They set an "overweight" rating and a $70.00 target price for the company. The Goldman Sachs Group restated a "buy" rating and set a $72.60 price target on shares of LATAM Airlines Group in a report on Tuesday, May 12th. Weiss Ratings restated a "hold (c)" rating on shares of LATAM Airlines Group in a research report on Tuesday, April 21st. Finally, Barclays reduced their price objective on shares of LATAM Airlines Group from $75.00 to $67.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 24th.

Hedge Funds Weigh In On LATAM Airlines Group

Several hedge funds and other institutional investors have recently bought and sold shares of LTM. PNC Financial Services Group Inc. increased its stake in shares of LATAM Airlines Group by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company's stock valued at $169,000 after acquiring an additional 198 shares in the last quarter. Blue Trust Inc. lifted its position in shares of LATAM Airlines Group by 3.6% during the 4th quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company's stock valued at $336,000 after acquiring an additional 219 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in LATAM Airlines Group by 0.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 39,161 shares of the transportation company's stock worth $1,936,000 after acquiring an additional 239 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company's stock worth $40,000 after acquiring an additional 246 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in LATAM Airlines Group by 26.2% in the second quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company's stock worth $96,000 after purchasing an additional 342 shares during the period.

LATAM Airlines Group Price Performance

Shares of NYSE:LTM opened at $52.56 on Monday. The firm has a market cap of $15.09 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.06 and a beta of 3.61. LATAM Airlines Group has a 12-month low of $40.52 and a 12-month high of $70.42. The business has a fifty day simple moving average of $52.92 and a 200 day simple moving average of $54.23.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The transportation company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.66. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.96 billion. LATAM Airlines Group had a return on equity of 127.75% and a net margin of 11.03%. As a group, equities research analysts expect that LATAM Airlines Group will post 5.95 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.