LATAM Airlines Group (NYSE:LTM) Hits New 1-Year High – What’s Next?

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $64.43 and last traded at $64.8260, with a volume of 62514 shares changing hands. The stock had previously closed at $63.62.

Analyst Ratings Changes

Several research firms have recently weighed in on LTM. The Goldman Sachs Group reiterated a “buy” rating and set a $58.50 price objective on shares of LATAM Airlines Group in a report on Friday, December 5th. Barclays set a $60.00 price objective on shares of LATAM Airlines Group and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Wall Street Zen raised LATAM Airlines Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Zacks Research raised shares of LATAM Airlines Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LATAM Airlines Group in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, LATAM Airlines Group currently has a consensus rating of “Buy” and an average target price of $59.25.

LATAM Airlines Group Stock Performance

The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.45 and a beta of 3.88. The business has a fifty day moving average of $53.35 and a two-hundred day moving average of $47.90.

Hedge Funds Weigh In On LATAM Airlines Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in LATAM Airlines Group by 101.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 309,213 shares of the transportation company’s stock worth $12,566,000 after acquiring an additional 155,553 shares during the period. U S Global Investors Inc. bought a new position in LATAM Airlines Group in the 2nd quarter valued at approximately $4,349,000. Kiker Wealth Management LLC acquired a new position in LATAM Airlines Group during the 2nd quarter worth about $1,459,000. Public Employees Retirement System of Ohio acquired a new stake in shares of LATAM Airlines Group in the second quarter valued at about $4,458,000. Finally, Squarepoint Ops LLC acquired a new stake in LATAM Airlines Group during the 2nd quarter valued at approximately $951,000.

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.