LATAM Airlines Group (NYSE:LTM) Cut to Sell at Goldman Sachs Group

Goldman Sachs Group cut shares of LATAM Airlines Group (NYSE:LTM) from a neutral rating to a sell rating in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has $9.30 target price on the transportation company’s stock, up from their prior target price of $9.20.

Several other research firms have also recently commented on LTM. Zacks Investment Research cut shares of LATAM Airlines Group from a buy rating to a hold rating in a research note on Monday, April 22nd. TheStreet cut shares of LATAM Airlines Group from a c- rating to a d rating in a research note on Tuesday, June 11th. ValuEngine cut shares of LATAM Airlines Group from a hold rating to a sell rating in a research note on Friday, May 17th. Finally, Bradesco Corretora set a $11.00 target price on shares of LATAM Airlines Group and gave the company a hold rating in a research note on Monday, May 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $11.08.

NYSE:LTM opened at $8.99 on Tuesday. The firm has a market cap of $5.46 billion, a PE ratio of 29.97, a P/E/G ratio of 0.57 and a beta of 1.31. LATAM Airlines Group has a one year low of $8.05 and a one year high of $12.30. The firm’s fifty day moving average is $8.93.

LATAM Airlines Group (NYSE:LTM) last released its earnings results on Friday, May 17th. The transportation company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.20). The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.82 billion. LATAM Airlines Group had a net margin of 0.29% and a return on equity of 0.78%. On average, equities research analysts anticipate that LATAM Airlines Group will post 0.36 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. acquired a new position in shares of LATAM Airlines Group in the 4th quarter valued at $69,000. Hardman Johnston Global Advisors LLC bought a new stake in shares of LATAM Airlines Group in the 1st quarter worth about $118,000. Bank of America Corp DE grew its holdings in shares of LATAM Airlines Group by 68.3% in the 4th quarter. Bank of America Corp DE now owns 12,160 shares of the transportation company’s stock worth $126,000 after purchasing an additional 4,934 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of LATAM Airlines Group in the 4th quarter worth about $139,000. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of LATAM Airlines Group in the 4th quarter worth about $169,000. Institutional investors own 2.21% of the company’s stock.

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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