Brokerages Set LATAM Airlines Group SA (NYSE:LTM) Price Target at $11.72

Shares of LATAM Airlines Group SA (NYSE:LTM) have been given an average recommendation of “Hold” by the ten analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.72.

Several brokerages recently weighed in on LTM. ValuEngine lowered shares of LATAM Airlines Group from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. TheStreet upgraded shares of LATAM Airlines Group from a “d+” rating to a “c-” rating in a report on Wednesday, October 9th. Citigroup upgraded shares of LATAM Airlines Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, September 27th. Barclays began coverage on shares of LATAM Airlines Group in a report on Monday, July 29th. They issued an “equal weight” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of LATAM Airlines Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $14.00 in a report on Friday, September 27th.

Institutional investors and hedge funds have recently bought and sold shares of the business. Provida Pension Fund Administrator bought a new stake in shares of LATAM Airlines Group during the second quarter worth $19,180,000. Banco Santander S.A. increased its position in shares of LATAM Airlines Group by 119.2% during the third quarter. Banco Santander S.A. now owns 705,750 shares of the transportation company’s stock worth $7,834,000 after acquiring an additional 383,740 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of LATAM Airlines Group by 5.8% during the second quarter. Renaissance Technologies LLC now owns 1,443,090 shares of the transportation company’s stock worth $13,522,000 after acquiring an additional 78,500 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of LATAM Airlines Group by 5.9% during the second quarter. Parametric Portfolio Associates LLC now owns 970,127 shares of the transportation company’s stock worth $9,090,000 after acquiring an additional 54,410 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of LATAM Airlines Group by 228.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 59,302 shares of the transportation company’s stock worth $658,000 after acquiring an additional 41,272 shares in the last quarter. Institutional investors own 2.46% of the company’s stock.

NYSE LTM traded down $0.22 during trading hours on Wednesday, hitting $11.24. The company’s stock had a trading volume of 819,117 shares, compared to its average volume of 417,685. The stock has a fifty day moving average of $11.13 and a 200 day moving average of $9.67. LATAM Airlines Group has a twelve month low of $7.62 and a twelve month high of $12.30. The firm has a market capitalization of $6.86 billion, a P/E ratio of 37.47 and a beta of 1.33.

LATAM Airlines Group (NYSE:LTM) last announced its quarterly earnings data on Tuesday, August 13th. The transportation company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. LATAM Airlines Group had a net margin of 0.81% and a return on equity of 2.29%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.38 billion. As a group, sell-side analysts anticipate that LATAM Airlines Group will post 0.19 EPS for the current year.

About LATAM Airlines Group

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.

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Analyst Recommendations for LATAM Airlines Group (NYSE:LTM)

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