Life Time Group’s (LTH) Buy Rating Reaffirmed at Guggenheim

Life Time Group (NYSE:LTH)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the stock. Guggenheim’s price objective suggests a potential upside of 14.02% from the stock’s current price.

LTH has been the subject of a number of other reports. Jefferies Financial Group lifted their price objective on shares of Life Time Group from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Weiss Ratings raised Life Time Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Bank of America restated a “buy” rating and set a $51.00 price target on shares of Life Time Group in a research report on Friday, July 31st. Oppenheimer lifted their price target on Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft set a $54.00 price objective on Life Time Group in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $53.77.

Life Time Group Stock Up 3.3%

LTH stock opened at $43.85 on Wednesday. The company’s 50 day moving average is $40.05 and its 200 day moving average is $32.77. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.50. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. Life Time Group has a 1-year low of $24.14 and a 1-year high of $47.24.

Life Time Group (NYSE:LTH) last announced its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The business had revenue of $866.00 million during the quarter, compared to analyst estimates of $845.75 million. During the same period in the previous year, the business posted $0.37 earnings per share. Life Time Group’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts predict that Life Time Group will post 1.57 EPS for the current fiscal year.

Insider Transactions at Life Time Group

In other Life Time Group news, EVP Eric J. Buss sold 479,240 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $44.97, for a total value of $21,551,422.80. Following the transaction, the executive vice president owned 474,008 shares in the company, valued at approximately $21,316,139.76. The trade was a 50.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bahram Akradi sold 438,257 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $45.03, for a total transaction of $19,734,712.71. Following the transaction, the chief executive officer directly owned 3,615,086 shares of the company’s stock, valued at approximately $162,787,322.58. This trade represents a 10.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,346,029 shares of company stock valued at $396,108,368. Company insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of 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. lifted its stake 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. boosted its holdings 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 valued at $73,154,000 after acquiring an additional 1,428,446 shares in the last quarter. Caxton Associates LLP bought a new stake in Life Time Group in the first quarter valued at $221,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 valued at $6,018,000 after purchasing an additional 64,348 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

About Life Time Group

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.