Life Time Group (NYSE:LTH) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Life Time Group (NYSE:LTH) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Life Time Group in a research report on Thursday, January 22nd. Guggenheim reissued a “buy” rating and set a $36.00 price objective on shares of Life Time Group in a report on Friday, January 23rd. Morgan Stanley boosted their price objective on shares of Life Time Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Northland Securities set a $42.00 target price on shares of Life Time Group in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Life Time Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.71.

Life Time Group Trading Down 1.1%

NYSE LTH opened at $26.14 on Monday. Life Time Group has a 52 week low of $24.14 and a 52 week high of $34.99. The firm has a 50 day moving average of $28.11 and a two-hundred day moving average of $27.25. The stock has a market capitalization of $5.80 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.69. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 0.48.

Life Time Group (NYSE:LTH) last issued its earnings results on Tuesday, February 24th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Life Time Group had a net margin of 12.51% and a return on equity of 10.20%. The firm had revenue of $745.10 million during the quarter, compared to the consensus estimate of $740.09 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Life Time Group will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Erik Weaver sold 1,329 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $25.73, for a total transaction of $34,195.17. Following the transaction, the chief financial officer owned 136,166 shares of the company’s stock, valued at $3,503,551.18. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ritadhwaja Jebens Singh sold 5,880 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.31, for a total value of $178,222.80. Following the completion of the transaction, the executive vice president owned 102,144 shares in the company, valued at $3,095,984.64. This trade represents a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,790 shares of company stock valued at $616,677. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Life Time Group

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position 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 buying an additional 3,286,229 shares during the last quarter. Bank of America Corp DE lifted 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 acquiring an additional 2,156,033 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Life Time Group by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock valued at $216,644,000 after acquiring an additional 2,091,712 shares in the last quarter. Norges Bank acquired a new stake in Life Time Group in the fourth quarter valued at about $49,228,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Life Time Group by 2,328.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock valued at $56,175,000 after buying an additional 1,775,837 shares in 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.