LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High – Time to Buy?

LATAM Airlines Group S.A. (NYSE:LTM)’s share price hit a new 52-week high on Tuesday . The company traded as high as $58.58 and last traded at $58.6930, with a volume of 186128 shares traded. The stock had previously closed at $57.72.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Wednesday, October 8th. Barclays set a $60.00 target price on LATAM Airlines Group and gave the company an “overweight” rating in a report on Wednesday, November 19th. The Goldman Sachs Group reissued a “buy” rating and set a $58.50 price target on shares of LATAM Airlines Group in a report on Friday, December 5th. Wall Street Zen upgraded LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Finally, Zacks Research raised LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, LATAM Airlines Group has an average rating of “Buy” and an average target price of $59.25.

LATAM Airlines Group Trading Up 1.4%

The company has a market capitalization of $17.69 billion, a P/E ratio of 13.99, a PEG ratio of 0.40 and a beta of 3.88. The stock has a 50 day moving average price of $50.55 and a 200 day moving average price of $46.72.

Hedge Funds Weigh In On LATAM Airlines Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTM. Caitong International Asset Management Co. Ltd lifted its holdings in shares of LATAM Airlines Group by 761.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company’s stock worth $88,000 after purchasing an additional 1,918 shares during the period. Tower Research Capital LLC TRC bought a new position in LATAM Airlines Group during the 2nd quarter worth $90,000. Rhumbline Advisers lifted its holdings 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 buying an additional 1,700 shares during the period. Blue Trust Inc. lifted its holdings in LATAM Airlines Group by 58.4% during the 2nd quarter. Blue Trust Inc. now owns 3,087 shares of the transportation company’s stock worth $125,000 after buying an additional 1,138 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of LATAM Airlines Group by 392.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,924 shares of the transportation company’s stock valued at $132,000 after buying an additional 2,330 shares during 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.