Life Time Group (NYSE:LTH) Rating Increased to Strong-Buy at Zacks Research

Life Time Group (NYSE:LTH) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on LTH. Weiss Ratings upgraded shares of Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Oppenheimer upped their price target on shares of Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Mizuho increased their price objective on shares of Life Time Group from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and set a $50.00 price objective on shares of Life Time Group in a research report on Wednesday. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $37.00 target price on shares of Life Time Group in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $45.67.

Life Time Group Stock Up 1.0%

NYSE LTH opened at $42.33 on Thursday. The stock’s 50-day moving average price is $37.24 and its 200-day moving average price is $31.31. The company has a quick ratio of 0.42, a current ratio of 0.53 and a debt-to-equity ratio of 0.46. Life Time Group has a 52 week low of $24.14 and a 52 week high of $43.96. The company has a market capitalization of $9.42 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $788.70 million for the quarter, compared to analysts’ expectations of $787.65 million. Life Time Group had a return on equity of 10.10% and a net margin of 12.56%.The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities research analysts predict that Life Time Group will post 1.53 earnings per share for the current year.

Insider Activity at Life Time Group

In other Life Time Group news, major shareholder Partners Group Private Equity sold 329,921 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $28.60, for a total value of $9,435,740.60. Following the completion of the transaction, the insider directly owned 1,651,322 shares in the company, valued at $47,227,809.20. This represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John G. Danhakl sold 2,208,580 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $28.60, for a total transaction of $63,165,388.00. Following the sale, the director directly owned 11,027,703 shares of the company’s stock, valued at approximately $315,392,305.80. This trade represents a 16.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,943,861 shares of company stock worth $857,228,555 in the last three months. Corporate insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its position in shares of Life Time Group by 138.3% during the second quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock worth $2,589,000 after acquiring an additional 36,800 shares during the last quarter. GAMMA Investing LLC grew its stake in Life Time Group by 36.6% during the second quarter. GAMMA Investing LLC now owns 3,844 shares of the company’s stock valued at $157,000 after acquiring an additional 1,029 shares in the last quarter. Avior Wealth Management LLC bought a new stake in Life Time Group in the 2nd quarter valued at $459,000. Versant Capital Management Inc increased its holdings in Life Time Group by 286.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,806 shares of the company’s stock valued at $74,000 after acquiring an additional 1,339 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Life Time Group by 49.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company’s stock worth $48,000 after purchasing an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 79.40% of the company’s stock.

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.