LATAM Airlines Group (NYSE:LTM) Lowered to Hold Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of LATAM Airlines Group (NYSE:LTM) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

LTM has been the subject of a number of other reports. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Finally, Barclays reaffirmed an “overweight” rating and set a $75.00 price target (up previously from $60.00) on shares of LATAM Airlines Group in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.55.

LATAM Airlines Group Trading Down 2.6%

Shares of NYSE LTM opened at $59.63 on Thursday. The business has a 50 day simple moving average of $58.34 and a 200-day simple moving average of $50.18. LATAM Airlines Group has a twelve month low of $26.36 and a twelve month high of $70.42. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.41 and a beta of 3.89.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings data on Tuesday, February 3rd. The transportation company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.34. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.81 billion. LATAM Airlines Group had a net margin of 10.07% and a return on equity of 136.61%. As a group, equities analysts predict that LATAM Airlines Group will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On LATAM Airlines Group

A number of institutional investors have recently added to or reduced their stakes in LTM. AQR Capital Management LLC acquired a new position in shares of LATAM Airlines Group during the 1st quarter valued at $3,061,000. Goldman Sachs Group Inc. boosted its holdings in LATAM Airlines Group by 133.9% during the first quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock worth $1,259,000 after buying an additional 23,044 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of LATAM Airlines Group by 113.8% in the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,700 shares in the last quarter. R Squared Ltd acquired a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at $320,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock worth $88,000 after acquiring an additional 1,918 shares in 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.