Life Time Group (NYSE:LTH) Raised to Strong-Buy at Zacks Research

Life Time Group (NYSE:LTH) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently commented on LTH. Guggenheim increased their price objective on Life Time Group from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $49.00 target price on shares of Life Time Group in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Life Time Group from $38.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Life Time Group from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Life Time Group currently has an average rating of “Buy” and an average target price of $45.67.

Life Time Group Stock Performance

LTH stock opened at $42.33 on Thursday. The stock’s 50 day simple moving average is $37.24 and its 200 day simple moving average is $31.31. The company has a current ratio of 0.53, a quick ratio of 0.42 and a debt-to-equity ratio of 0.46. Life Time Group has a 12-month low of $24.14 and a 12-month high of $43.96. The stock has a market capitalization of $9.42 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51.

Life Time Group (NYSE:LTH) last posted its earnings results on Tuesday, May 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The business had revenue of $788.70 million during the quarter, compared to analyst estimates of $787.65 million. During the same quarter last year, the company earned $0.39 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Life Time Group will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Life Time Group

In other Life Time Group news, Director John Kristofer Galashan sold 2,208,580 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the completion of the sale, the director directly owned 11,027,703 shares in the company, valued at $315,392,305.80. The trade was a 16.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Partners Group Private Equity sold 329,921 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $28.60, for a total value of $9,435,740.60. Following the sale, the insider owned 1,651,322 shares of the company’s stock, valued at approximately $47,227,809.20. This represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,943,861 shares of company stock valued at $857,228,555 in the last 90 days. 13.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Life Time Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Life Time Group by 140.4% during the first quarter. Royal Bank of Canada now owns 54,380 shares of the company’s stock valued at $1,642,000 after buying an additional 31,762 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Life Time Group by 25.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,855 shares of the company’s stock worth $2,140,000 after acquiring an additional 14,267 shares during the period. Goldman Sachs Group Inc. raised its position in Life Time Group by 143.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,422,304 shares of the company’s stock worth $73,154,000 after acquiring an additional 1,428,446 shares during the period. Caxton Associates LLP purchased a new position in shares of Life Time Group during the 1st quarter worth $221,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Life Time Group by 47.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,287 shares of the company’s stock worth $6,018,000 after acquiring an additional 64,348 shares during the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Life Time Group Company Profile

Life Time Group (NYSE: LTH) is a premier operator of health, fitness and lifestyle centers across North America. The company’s core business encompasses the development, ownership and management of premium athletic resorts that integrate state-of-the-art fitness facilities, group exercise studios, indoor and outdoor pools, running tracks, and spa and salon services. In addition to its brick-and-mortar clubs, Life Time offers a digital platform featuring on-demand and live-streamed workouts, personalized training programs and nutrition guidance, enabling members to pursue their wellness goals both at home and on the go.

Founded in 1992 and headquartered in Chanhassen, Minnesota, Life Time has grown from a single Minnesota health club into a network of more than 160 locations across the United States and Canada.