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

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $52.86 and last traded at $52.6750, with a volume of 131357 shares. The stock had previously closed at $52.10.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays set a $60.00 price objective on shares of LATAM Airlines Group and gave the company an “overweight” rating in a report on Wednesday, November 19th. Zacks Research cut shares of LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $58.50 price target on shares of LATAM Airlines Group in a research note on Friday, December 5th. Wall Street Zen raised shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.25.

LATAM Airlines Group Stock Up 2.3%

The business’s 50 day moving average is $46.03 and its two-hundred day moving average is $44.23. The firm has a market cap of $16.28 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.43 and a beta of 3.91.

Institutional Investors Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake in LATAM Airlines Group by 248.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after purchasing an additional 1,058,554 shares during the period. Burkehill Global Management LP bought a new position in shares of LATAM Airlines Group during the 3rd quarter worth approximately $42,988,000. SPX Gestao de Recursos Ltda increased its stake in shares of LATAM Airlines Group by 3,884.5% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 935,321 shares of the transportation company’s stock valued at $42,323,000 after acquiring an additional 911,847 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of LATAM Airlines Group during the 3rd quarter valued at $37,331,000. Finally, Ghisallo Capital Management LLC lifted its position in shares of LATAM Airlines Group by 1,020.3% during the 3rd quarter. Ghisallo Capital Management LLC now owns 840,193 shares of the transportation company’s stock valued at $38,019,000 after acquiring an additional 765,193 shares during the period.

About LATAM Airlines Group

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.