Analysts Set LATAM Airlines Group S.A. (NYSE:LTM) Target Price at $66.27

Shares of LATAM Airlines Group S.A. (NYSE:LTM) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $66.2667.

LTM has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LATAM Airlines Group in a research report on Friday, July 17th. Zacks Research lowered LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. JPMorgan Chase & Co. began coverage on LATAM Airlines Group in a report on Wednesday, June 3rd. They set an “overweight” rating and a $70.00 price target on the stock. Wall Street Zen downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group initiated coverage on LATAM Airlines Group in a research report on Thursday, June 18th. They set a “buy” rating and a $70.00 price objective on the stock.

Institutional Trading of LATAM Airlines Group

Institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in LATAM Airlines Group during the 4th quarter valued at $83,266,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of LATAM Airlines Group by 248.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,484,669 shares of the transportation company’s stock worth $67,181,000 after buying an additional 1,058,554 shares during the last quarter. Burkehill Global Management LP purchased a new position in shares of LATAM Airlines Group in the 3rd quarter worth $42,988,000. Zimmer Partners LP bought a new stake in shares of LATAM Airlines Group in the third quarter worth $37,331,000. Finally, Renaissance Technologies LLC grew its holdings in shares of LATAM Airlines Group by 184.9% in the first quarter. Renaissance Technologies LLC now owns 1,267,200 shares of the transportation company’s stock worth $62,650,000 after acquiring an additional 822,400 shares during the period.

LATAM Airlines Group Trading Up 1.0%

NYSE LTM opened at $51.17 on Tuesday. LATAM Airlines Group has a 12 month low of $41.41 and a 12 month high of $70.42. The stock’s fifty day moving average price is $52.94 and its 200-day moving average price is $52.01. The stock has a market cap of $14.69 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.23 and a beta of 3.64.

LATAM Airlines Group (NYSE:LTM) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.06 billion. LATAM Airlines Group had a return on equity of 101.21% and a net margin of 9.69%. As a group, analysts forecast that LATAM Airlines Group will post 5 earnings per share for the current fiscal year.

About LATAM Airlines Group

LATAM Airlines Group SA is a Chile-based airline holding company and one of the largest airline groups in Latin America. Through its operating affiliates and commercial brands, the company provides scheduled passenger and air cargo transportation on domestic and international routes.

LATAM serves markets across South America, including Chile, Brazil, Colombia, Ecuador and Peru, and connects the region with destinations in North America, Europe, Oceania and other international markets. Its passenger services include multiple travel classes and related offerings, while its cargo operations transport freight using both dedicated aircraft and passenger aircraft capacity.

The group was formed in 2012 through the merger of Chile’s LAN Airlines and Brazil’s TAM Airlines.