LATAM Airlines Group (NYSE:LTM) Trading 11% Higher – What’s Next?

LATAM Airlines Group S.A. (NYSE:LTM)’s stock price shot up 11% on Wednesday . The company traded as high as $53.85 and last traded at $52.9740. 1,123,530 shares were traded during trading, a decline of 22% from the average session volume of 1,434,274 shares. The stock had previously closed at $47.71.

Wall Street Analyst Weigh In

LTM has been the topic of a number of research reports. Morgan Stanley upgraded shares of LATAM Airlines Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $61.00 to $60.00 in a report on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of LATAM Airlines Group in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $64.10 price target on LATAM Airlines Group and gave the company a “neutral” rating in a report on Thursday, February 12th. Zacks Research cut LATAM Airlines Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Barclays lowered their target price on LATAM Airlines Group from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LATAM Airlines Group currently has a consensus rating of “Moderate Buy” and an average price target of $62.28.

LATAM Airlines Group Trading Up 10.8%

The firm’s 50-day moving average price is $54.90 and its 200-day moving average price is $51.52. The stock has a market capitalization of $15.97 billion, a PE ratio of 10.63, a PEG ratio of 0.39 and a beta of 3.93.

LATAM Airlines Group (NYSE:LTM) last released its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.35 by $0.34. LATAM Airlines Group had a return on equity of 136.61% and a net margin of 10.07%.The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, equities research analysts predict that LATAM Airlines Group S.A. will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LATAM Airlines Group

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in LATAM Airlines Group by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,122 shares of the transportation company’s stock valued at $169,000 after buying an additional 198 shares during the period. Blue Trust Inc. boosted its stake in LATAM Airlines Group by 3.6% during the fourth quarter. Blue Trust Inc. now owns 6,226 shares of the transportation company’s stock worth $336,000 after buying an additional 219 shares during the period. Farther Finance Advisors LLC boosted its stake in LATAM Airlines Group by 49.1% during the fourth quarter. Farther Finance Advisors LLC now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in LATAM Airlines Group by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,386 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 391 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of LATAM Airlines Group by 24.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,777 shares of the transportation company’s stock valued at $204,000 after acquiring an additional 749 shares during the period.

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.