LATAM Airlines Group (NYSE:LTM) Lifted to “C-” at TheStreet

TheStreet upgraded shares of LATAM Airlines Group (NYSE:LTM) from a d+ rating to a c- rating in a research report released on Wednesday morning, TheStreetRatingsTable reports.

Other equities research analysts have also recently issued reports about the company. Barclays started coverage on LATAM Airlines Group in a research note on Monday, July 29th. They issued an equal weight rating and a $11.00 price target for the company. Citigroup upgraded LATAM Airlines Group from a neutral rating to a buy rating and set a $15.00 price target for the company in a research note on Friday, September 27th. JPMorgan Chase & Co. upgraded LATAM Airlines Group from a neutral rating to an overweight rating and boosted their price target for the company from $10.00 to $14.00 in a research note on Friday, September 27th. Zacks Investment Research upgraded LATAM Airlines Group from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Monday, August 12th. Finally, Goldman Sachs Group cut LATAM Airlines Group from a neutral rating to a sell rating and boosted their price target for the company from $9.20 to $9.30 in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. LATAM Airlines Group currently has an average rating of Hold and an average target price of $11.72.

Shares of LTM stock opened at $11.50 on Wednesday. The stock has a market cap of $6.97 billion, a P/E ratio of 38.33 and a beta of 1.34. The stock has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $9.57. LATAM Airlines Group has a 1 year low of $7.62 and a 1 year high of $12.30.

LATAM Airlines Group (NYSE:LTM) last issued its quarterly earnings results on Tuesday, August 13th. The transportation company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.38 billion. LATAM Airlines Group had a return on equity of 2.29% and a net margin of 0.81%. On average, equities research analysts predict that LATAM Airlines Group will post 0.19 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in LTM. Provida Pension Fund Administrator acquired a new position in LATAM Airlines Group during the second quarter valued at approximately $19,180,000. Renaissance Technologies LLC raised its position in LATAM Airlines Group by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,443,090 shares of the transportation company’s stock valued at $13,522,000 after purchasing an additional 78,500 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in LATAM Airlines Group by 5.9% during the second quarter. Parametric Portfolio Associates LLC now owns 970,127 shares of the transportation company’s stock valued at $9,090,000 after purchasing an additional 54,410 shares in the last quarter. Acadian Asset Management LLC acquired a new position in LATAM Airlines Group during the first quarter valued at approximately $401,000. Finally, Newfoundland Capital Management acquired a new position in LATAM Airlines Group during the second quarter valued at approximately $328,000. Institutional investors and hedge funds own 2.46% of the company’s stock.

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.

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Analyst Recommendations for LATAM Airlines Group (NYSE:LTM)

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