LATAM Airlines Group (NYSE:LTM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a research report report published on Saturday.

Other analysts have also recently issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. The Goldman Sachs Group restated a “buy” rating and set a $72.60 price objective on shares of LATAM Airlines Group in a research note on Tuesday, May 12th. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. initiated coverage on LATAM Airlines Group in a research report on Wednesday, June 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. Finally, Jefferies Financial Group began coverage on LATAM Airlines Group in a research note on Thursday, June 18th. They issued a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $66.27.

LATAM Airlines Group Stock Performance

LATAM Airlines Group stock opened at $53.87 on Friday. LATAM Airlines Group has a 1 year low of $41.41 and a 1 year high of $70.42. The firm’s 50-day moving average is $53.98 and its 200-day moving average is $53.84. The company has a market cap of $15.47 billion, a P/E ratio of 9.90, a PEG ratio of 1.25 and a beta of 3.62.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data 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 firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.06 billion. As a group, sell-side analysts predict that LATAM Airlines Group will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On LATAM Airlines Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in LATAM Airlines Group by 49.1% in the 4th 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. boosted its position in 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 acquiring an additional 1,136 shares during the period. Leonteq Securities AG bought a new position in shares of LATAM Airlines Group in the fourth quarter worth $78,000. Tower Research Capital LLC TRC bought a new position in shares of LATAM Airlines Group in the second quarter worth $90,000. Finally, GAMMA Investing LLC increased its holdings in shares of LATAM Airlines Group by 26.2% during the second 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 during the period.

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.