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

Zacks Research upgraded shares of Life Time Group (NYSE:LTH) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

LTH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $49.00 price target on shares of Life Time Group in a research report on Wednesday. Oppenheimer boosted their price objective on shares of Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Weiss Ratings upgraded Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Guggenheim increased their target price 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. Finally, Mizuho lifted their price target on Life Time Group from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $45.67.

Life Time Group Stock Performance

LTH stock opened at $42.33 on Thursday. Life Time Group has a 1-year low of $24.14 and a 1-year high of $43.96. The business has a 50-day moving average price of $37.24 and a 200 day moving average price of $31.31. The company has a market capitalization of $9.42 billion, a P/E ratio of 24.75, a PEG ratio of 1.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42.

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

Insiders Place Their Bets

In related news, Director John Kristofer Galashan sold 2,208,580 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the completion of the transaction, the director 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 legal filing with the SEC, which is available through this link. Also, EVP Ritadhwaja Jebens Singh sold 67,751 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $38.65, for a total transaction of $2,618,576.15. Following the sale, the executive vice president directly owned 138,351 shares of the company’s stock, valued at $5,347,266.15. The trade was a 32.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 27,943,861 shares of company stock worth $857,228,555. Insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Several institutional investors and hedge funds have recently bought and sold shares of LTH. Vanguard Group Inc. lifted its holdings in shares of Life Time Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company’s stock valued at $362,651,000 after purchasing an additional 143,487 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Life Time Group by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock worth $217,929,000 after purchasing an additional 1,068,208 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Life Time Group by 41.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after buying an additional 2,091,712 shares during the last quarter. Wellington Management Group LLP grew its stake in Life Time Group by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock worth $155,852,000 after buying an additional 34,964 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Life Time Group by 102.1% during the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after buying an additional 2,156,033 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other institutional investors.

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.