Life Time Group (NYSE:LTH) Price Target Raised to $29.00

Life Time Group (NYSE:LTH) had its price objective lifted by Morgan Stanley from $21.00 to $29.00 in a research note published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Life Time Group from $15.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Craig Hallum started coverage on shares of Life Time Group in a research report on Friday, July 19th. They set a “buy” rating and a $30.00 price objective on the stock. Northland Securities lifted their target price on shares of Life Time Group from $27.00 to $28.50 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Bank of America increased their price target on shares of Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Life Time Group Stock Up 3.1 %

NYSE:LTH opened at $26.02 on Wednesday. Life Time Group has a 1-year low of $11.10 and a 1-year high of $27.11. The company has a market capitalization of $5.17 billion, a PE ratio of 72.28, a P/E/G ratio of 3.20 and a beta of 1.87. The firm’s 50-day moving average price is $24.27 and its 200-day moving average price is $19.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.44 and a quick ratio of 0.32.

Life Time Group (NYSE:LTH) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Life Time Group had a net margin of 4.54% and a return on equity of 5.36%. The business had revenue of $667.80 million for the quarter, compared to analysts’ expectations of $634.92 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. On average, equities analysts predict that Life Time Group will post 0.56 EPS for the current fiscal year.

Insider Activity at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 4,662 shares of Life Time Group stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total value of $120,652.56. Following the completion of the sale, the chief financial officer now owns 75,866 shares of the company’s stock, valued at approximately $1,963,412.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Partners Group Private Equity sold 650,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total value of $13,572,000.00. Following the transaction, the insider now owns 5,929,348 shares of the company’s stock, valued at approximately $123,804,786.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Erik Weaver sold 4,662 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.88, for a total transaction of $120,652.56. Following the sale, the chief financial officer now directly owns 75,866 shares of the company’s stock, valued at approximately $1,963,412.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,229,662 shares of company stock worth $88,338,653 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in Life Time Group during the fourth quarter valued at $14,544,000. Vanguard Group Inc. increased its holdings in Life Time Group by 35.2% in the 4th quarter. Vanguard Group Inc. now owns 6,401,206 shares of the company’s stock worth $96,530,000 after acquiring an additional 1,665,006 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in Life Time Group by 52.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 23,679 shares of the company’s stock worth $367,000 after acquiring an additional 8,098 shares during the period. GSA Capital Partners LLP lifted its holdings in Life Time Group by 13.2% during the first quarter. GSA Capital Partners LLP now owns 60,856 shares of the company’s stock valued at $944,000 after purchasing an additional 7,101 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Life Time Group by 1,443.3% in the first quarter. Quantbot Technologies LP now owns 73,986 shares of the company’s stock worth $1,148,000 after purchasing an additional 69,192 shares during the period. Institutional investors own 79.40% of the company’s stock.

About Life Time Group

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.