LATAM Airlines Group (NYSE:LTM) Reaches New 12-Month High – Here’s Why

Shares of LATAM Airlines Group S.A. (NYSE:LTM) reached a new 52-week high on Monday . The company traded as high as $68.08 and last traded at $67.67, with a volume of 672109 shares. The stock had previously closed at $65.81.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LTM shares. 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. Zacks Research upgraded LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $58.50 price objective on shares of LATAM Airlines Group in a report on Friday, December 5th. Barclays set a $60.00 target price on LATAM Airlines Group and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $59.25.

LATAM Airlines Group Stock Up 4.7%

The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.46 and a beta of 3.88. The company’s 50-day simple moving average is $55.31 and its 200-day simple moving average is $48.74.

Hedge Funds Weigh In On LATAM Airlines Group

A number of hedge funds and other institutional investors have recently modified their holdings of LTM. Farther Finance Advisors LLC increased its stake 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 worth $40,000 after purchasing an additional 246 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of LATAM Airlines Group by 761.1% in the second 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. Tower Research Capital LLC TRC purchased a new position in shares of LATAM Airlines Group in the second quarter worth approximately $90,000. Rhumbline Advisers raised its holdings in shares of LATAM Airlines Group by 113.8% during the first quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,700 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of LATAM Airlines Group by 58.4% in the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock valued at $125,000 after acquiring an additional 1,138 shares in the last quarter.

About LATAM Airlines Group

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.