Morgan Stanley Forecasts Strong Price Appreciation for Life Time Group (NYSE:LTH) Stock

Life Time Group (NYSE:LTH) had its target price lifted by research analysts at Morgan Stanley from $29.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 2.90% from the company’s current price.

A number of other analysts also recently issued reports on LTH. Northland Securities increased their target price on shares of Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Guggenheim reissued a “buy” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Life Time Group in a research report on Friday, January 17th. Wells Fargo & Company lifted their target price on shares of Life Time Group from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Oppenheimer increased their price target on Life Time Group from $33.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Craig Hallum boosted their price objective on Life Time Group from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.86.

Life Time Group Price Performance

Shares of Life Time Group stock opened at $30.90 on Monday. The business’s fifty day moving average price is $27.16 and its 200 day moving average price is $25.18. Life Time Group has a twelve month low of $11.89 and a twelve month high of $33.64. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $6.39 billion, a P/E ratio of 44.78, a PEG ratio of 0.81 and a beta of 1.94.

Insider Transactions at Life Time Group

In related news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of Life Time Group stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the completion of the sale, the executive vice president now owns 191,626 shares in the company, valued at approximately $4,790,650. The trade was a 11.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erik Weaver sold 1,741 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $29.62, for a total transaction of $51,568.42. Following the transaction, the chief financial officer now owns 96,361 shares in the company, valued at $2,854,212.82. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,147 shares of company stock valued at $2,241,556. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Life Time Group

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in Life Time Group by 7,344.2% during the 4th quarter. Marshall Wace LLP now owns 1,361,032 shares of the company’s stock worth $30,106,000 after buying an additional 1,342,749 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Life Time Group during the 3rd quarter valued at approximately $31,575,000. Norges Bank bought a new position in Life Time Group during the fourth quarter worth $19,198,000. Loomis Sayles & Co. L P boosted its holdings in Life Time Group by 33.1% in the third quarter. Loomis Sayles & Co. L P now owns 3,050,253 shares of the company’s stock worth $74,487,000 after purchasing an additional 758,757 shares during the period. Finally, American Century Companies Inc. increased its stake in Life Time Group by 61.9% during the fourth quarter. American Century Companies Inc. now owns 1,924,461 shares of the company’s stock valued at $42,569,000 after purchasing an additional 735,682 shares during the last quarter. 79.40% of the stock is currently owned by institutional investors and hedge funds.

Life Time Group Company Profile

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.