Wells Fargo & Company Issues Positive Forecast for Life Time Group (NYSE:LTH) Stock Price

Life Time Group (NYSE:LTH) had its price target raised by Wells Fargo & Company from $25.00 to $26.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on LTH. Evercore ISI initiated coverage on shares of Life Time Group in a research note on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price objective on the stock. Northland Securities increased their price objective on Life Time Group from $28.50 to $29.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their price target on shares of Life Time Group from $21.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America increased their target price on Life Time Group from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.89.

Life Time Group Price Performance

Shares of NYSE LTH opened at $23.42 on Tuesday. Life Time Group has a fifty-two week low of $11.89 and a fifty-two week high of $27.11. The stock has a market cap of $4.85 billion, a P/E ratio of 33.94, a P/E/G ratio of 1.49 and a beta of 1.88. The firm’s 50-day simple moving average is $24.17 and its 200 day simple moving average is $22.52. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64.

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

Insider Activity

In other Life Time Group news, CFO Erik Weaver sold 4,662 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the transaction, the chief financial officer now owns 75,866 shares in the company, valued at $1,963,412.08. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 243,938 shares in the company, valued at $5,993,556.66. The trade was a 40.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.50% of the stock is owned by insiders.

Institutional Trading of Life Time Group

Several hedge funds and other institutional investors have recently made changes to their positions in LTH. Farther Finance Advisors LLC lifted its holdings in Life Time Group by 105.8% during the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company’s stock worth $43,000 after acquiring an additional 906 shares during the period. Amalgamated Bank lifted its holdings in shares of Life Time Group by 38.2% in the second quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock worth $38,000 after buying an additional 563 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Life Time Group during the 3rd quarter valued at $60,000. Blue Trust Inc. increased its stake in Life Time Group by 345.5% in the 3rd quarter. Blue Trust Inc. now owns 2,940 shares of the company’s stock worth $72,000 after acquiring an additional 2,280 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Life Time Group by 268.2% in the 3rd quarter. FMR LLC now owns 5,011 shares of the company’s stock worth $122,000 after buying an additional 3,650 shares during the last quarter. 79.40% of the stock is currently owned by institutional investors.

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.