Life Time Group (NYSE:LTH) Price Target Raised to $28.00

Life Time Group (NYSE:LTH) had its target price hoisted by Wells Fargo & Company from $26.00 to $28.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley raised their price target on shares of Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Northland Securities upped their price target on Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI began coverage on Life Time Group in a research report on Friday, November 22nd. They set an “outperform” rating and a $29.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and issued a $32.00 target price (up from $29.00) on shares of Life Time Group in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.75.

Life Time Group Price Performance

LTH stock opened at $27.67 on Friday. The company has a market capitalization of $5.73 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. Life Time Group has a 52-week low of $11.89 and a 52-week high of $27.74. The business has a 50-day simple moving average of $23.63 and a two-hundred day simple moving average of $23.34.

Life Time Group (NYSE:LTH) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Research analysts expect that Life Time Group will post 0.56 EPS for the current fiscal year.

Insider Activity

In other Life Time Group news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the transaction, the executive vice president now directly owns 191,626 shares of the company’s stock, valued at approximately $4,790,650. The trade was a 11.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $24.57, for a total transaction of $4,127,760.00. Following the completion of the transaction, the executive vice president now owns 243,938 shares of the company’s stock, valued at $5,993,556.66. This trade represents a 40.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Park Avenue Securities LLC bought a new stake in Life Time Group during the 4th quarter valued at approximately $542,000. Moody National Bank Trust Division boosted its position in shares of Life Time Group by 1.0% during the fourth quarter. Moody National Bank Trust Division now owns 92,101 shares of the company’s stock valued at $2,037,000 after purchasing an additional 911 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Life Time Group by 11.1% in the third quarter. JPMorgan Chase & Co. now owns 3,569,214 shares of the company’s stock worth $87,160,000 after purchasing an additional 356,255 shares during the period. Principal Financial Group Inc. raised its holdings in Life Time Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 3,646,372 shares of the company’s stock worth $89,045,000 after purchasing an additional 46,710 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Life Time Group during the third quarter valued at $31,575,000. Hedge funds and other 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.