Life Time Group (NYSE:LTH) Price Target Raised to $38.00

Life Time Group (NYSE:LTHFree Report) had its price objective hoisted by Morgan Stanley from $37.00 to $38.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently issued reports on LTH. Weiss Ratings reiterated a “hold (c+)” rating on shares of Life Time Group in a research note on Thursday, January 22nd. Guggenheim reissued a “buy” rating and set a $36.00 target price on shares of Life Time Group in a research note on Friday, January 23rd. Zacks Research cut Life Time Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Northland Securities set a $42.00 price objective on Life Time Group in a report on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.85.

Read Our Latest Stock Report on LTH

Life Time Group Stock Performance

Shares of LTH stock opened at $26.30 on Monday. The company has a market cap of $5.80 billion, a P/E ratio of 15.84, a PEG ratio of 0.73 and a beta of 1.68. The business has a 50 day moving average of $28.10 and a two-hundred day moving average of $27.28. Life Time Group has a 52 week low of $24.14 and a 52 week high of $34.99. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.50.

Life Time Group (NYSE:LTHGet Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Life Time Group had a return on equity of 10.44% and a net margin of 12.51%.The business had revenue of $745.10 million for the quarter, compared to analysts’ expectations of $740.09 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Life Time Group will post 0.74 EPS for the current year.

Insider Activity at Life Time Group

In other news, EVP Ritadhwaja Jebens Singh sold 12,088 shares of Life Time Group stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $29.75, for a total transaction of $359,618.00. Following the transaction, the executive vice president directly owned 110,967 shares in the company, valued at approximately $3,301,268.25. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric J. Buss sold 74,487 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $28.05, for a total value of $2,089,360.35. Following the completion of the sale, the executive vice president directly owned 380,683 shares in the company, valued at $10,678,158.15. This represents a 16.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 93,948 shares of company stock worth $2,671,842 over the last quarter. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Life Time Group by 129.3% in the 3rd quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock valued at $160,868,000 after acquiring an additional 3,286,229 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock worth $117,797,000 after purchasing an additional 2,156,033 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Life Time Group by 41.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after purchasing an additional 2,091,712 shares in the last quarter. Norges Bank acquired a new stake in Life Time Group during the fourth quarter valued at approximately $49,228,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Life Time Group by 2,328.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock worth $56,175,000 after buying an additional 1,775,837 shares in the last quarter. 79.40% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Life Time Group

Here are the key news stories impacting Life Time Group this week:

About Life Time Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Life Time Group (NYSE:LTH)

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