Barclays Has Lowered Expectations for LATAM Airlines Group (NYSE:LTM) Stock Price

LATAM Airlines Group (NYSE:LTM) had its price target decreased by equities researchers at Barclays from $75.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s target price would indicate a potential upside of 35.45% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Research downgraded LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $58.00 in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. Morgan Stanley reissued an “equal weight” rating and set a $67.00 price objective (up from $56.00) on shares of LATAM Airlines Group in a research report on Friday, February 20th. Finally, The Goldman Sachs Group set a $64.10 target price on shares of LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, LATAM Airlines Group currently has an average rating of “Hold” and an average price target of $64.03.

LATAM Airlines Group Trading Down 0.3%

Shares of LATAM Airlines Group stock traded down $0.15 on Tuesday, hitting $49.47. The stock had a trading volume of 98,507 shares, compared to its average volume of 1,505,786. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.32 and a beta of 3.89. LATAM Airlines Group has a 52-week low of $26.36 and a 52-week high of $70.42. The company’s 50 day moving average price is $57.58 and its 200 day moving average price is $51.49.

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

Institutional Investors Weigh In On LATAM Airlines Group

Several hedge funds have recently modified their holdings of LTM. AQR Capital Management LLC acquired a new stake in shares of LATAM Airlines Group in the 1st quarter worth $3,061,000. Goldman Sachs Group Inc. increased its position in LATAM Airlines Group by 133.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 40,258 shares of the transportation company’s stock worth $1,259,000 after purchasing an additional 23,044 shares during the period. Rhumbline Advisers increased its position in LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,700 shares during the period. SG Americas Securities LLC acquired a new stake in shares of LATAM Airlines Group in the 2nd quarter valued at approximately $595,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of LATAM Airlines Group by 4.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 298,026 shares of the transportation company’s stock valued at $12,112,000 after buying an additional 11,929 shares during the period.

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.