Life Time Group (NYSE:LTH) Price Target Raised to $44.00 at Mizuho

Life Time Group (NYSE:LTH) had its target price boosted by Mizuho from $41.00 to $44.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 30.46% from the stock’s previous close.

A number of other research firms have also issued reports on LTH. Guggenheim restated a “buy” rating and issued a $36.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. UBS Group restated a “buy” rating and issued a $43.00 price target on shares of Life Time Group in a research report on Thursday, March 12th. KeyCorp started coverage on Life Time Group in a research report on Thursday, March 12th. They issued an “overweight” rating and a $40.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 price target on shares of Life Time Group in a research report on Wednesday. Finally, Zacks Research upgraded Life Time Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.40.

Life Time Group Price Performance

LTH stock opened at $33.73 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.63 and a quick ratio of 0.52. The business has a 50 day simple moving average of $27.06 and a 200-day simple moving average of $27.07. The firm has a market capitalization of $7.48 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.50. Life Time Group has a 1 year low of $24.14 and a 1 year high of $34.99.

Life Time Group (NYSE:LTH) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $788.70 million during the quarter, compared to analyst estimates of $787.65 million. Life Time Group had a return on equity of 10.29% and a net margin of 12.56%.The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. Equities research analysts anticipate that Life Time Group will post 1.47 earnings per share for the current fiscal year.

Insider Activity at Life Time Group

In related news, CFO Erik Weaver sold 1,329 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $25.73, for a total value of $34,195.17. Following the completion of the transaction, the chief financial officer directly owned 136,166 shares in the company, valued at approximately $3,503,551.18. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Parham Javaheri sold 11,060 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $26.46, for a total value of $292,647.60. Following the completion of the transaction, the executive vice president owned 315,175 shares of the company’s stock, valued at $8,339,530.50. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LTH. GAMMA Investing LLC grew its position in Life Time Group by 144.5% in the fourth quarter. GAMMA Investing LLC now owns 1,220 shares of the company’s stock worth $32,000 after acquiring an additional 721 shares during the period. Wexford Capital LP acquired a new position in Life Time Group during the third quarter worth $40,000. EverSource Wealth Advisors LLC lifted its stake in Life Time Group by 201.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 1,002 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Life Time Group during the third quarter worth $69,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Life Time Group during the fourth quarter worth $73,000. 79.40% of the stock is currently 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.