LATAM Airlines Group S.A. (NYSE:LTM) Receives Average Rating of "Buy" from Brokerages

Key Points

• LATAM Airlines Group has a consensus “Buy” rating among eight brokerages, with six buys, one strong buy and one hold. Analysts’ average 12-month price target is $66.27, compared with the stock’s recent $52.35 price.
• The airline exceeded quarterly expectations, reporting $0.44 in earnings per share versus the $0.41 consensus estimate and revenue of $4.12 billion versus $4.06 billion expected.
• Several institutional investors increased or initiated positions in LATAM, while the stock remains below its 52-week high of $70.42 and has a market capitalization of approximately $15.03 billion.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) have earned a consensus rating of "Buy" from the eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.2667.

Several analysts have recently commented on LTM shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LATAM Airlines Group in a report on Friday, July 17th. Wall Street Zen downgraded shares of LATAM Airlines Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research raised shares of LATAM Airlines Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Jefferies Financial Group assumed coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They set a "buy" rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They issued an "overweight" rating and a $70.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in LATAM Airlines Group by 49.1% in the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company's stock valued at $40,000 after acquiring an additional 246 shares during the period. Assetmark Inc. grew its stake in shares of LATAM Airlines Group by 684.3% during the 1st quarter. Assetmark Inc. now owns 1,302 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,136 shares during the period. Leonteq Securities AG purchased a new position in shares of LATAM Airlines Group during the 4th quarter valued at approximately $78,000. GAMMA Investing LLC increased its holdings in shares of LATAM Airlines Group by 26.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,647 shares of the transportation company's stock valued at $96,000 after purchasing an additional 342 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of LATAM Airlines Group in the 2nd quarter valued at $90,000.

LATAM Airlines Group Stock Down 0.2%

Shares of NYSE LTM opened at $52.35 on Friday. The business's 50 day moving average price is $54.13 and its 200 day moving average price is $53.63. The firm has a market cap of $15.03 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.15 and a beta of 3.62. LATAM Airlines Group has a 52 week low of $41.41 and a 52 week high of $70.42.

LATAM Airlines Group (NYSE:LTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. LATAM Airlines Group had a net margin of 9.69% and a return on equity of 101.21%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.06 billion. As a group, research analysts expect that LATAM Airlines Group will post 5.46 earnings per share for the current year.

About LATAM Airlines Group

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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