Life Time Group (NYSE:LTH) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Life Time Group (NYSE:LTH) in a research report released on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $37.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Guggenheim reissued a “buy” rating and set a $36.00 target price on shares of Life Time Group in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a research note on Thursday, January 22nd. Northland Securities set a $42.00 price target on Life Time Group in a report on Friday, January 23rd. Morgan Stanley boosted their price objective on Life Time Group from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Jefferies Financial Group assumed coverage on Life Time Group in a report on Tuesday. They issued a “buy” rating and a $40.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Life Time Group has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Life Time Group Price Performance

Shares of NYSE LTH opened at $26.65 on Wednesday. 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 firm has a market capitalization of $5.91 billion, a PE ratio of 16.05, a P/E/G ratio of 1.20 and a beta of 1.69. Life Time Group has a 1-year low of $24.14 and a 1-year high of $34.99. The business’s fifty day moving average price is $28.07 and its two-hundred day moving average price is $27.17.

Life Time Group (NYSE:LTH) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Life Time Group had a net margin of 12.51% and a return on equity of 10.20%. The company had revenue of $745.10 million during the quarter, compared to the consensus estimate of $740.09 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts expect that Life Time Group will post 0.74 EPS for the current year.

Insider Transactions at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 1,493 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $29.90, for a total transaction of $44,640.70. Following the transaction, the chief financial officer owned 77,771 shares of the company’s stock, valued at approximately $2,325,352.90. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $29.75, for a total transaction of $359,618.00. Following the sale, the executive vice president owned 110,967 shares in the company, valued at $3,301,268.25. This trade represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,790 shares of company stock valued at $616,677 in the last quarter. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Life Time Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Life Time Group by 129.3% during the 3rd quarter. Wellington Management Group LLP now owns 5,828,546 shares of the company’s stock valued at $160,868,000 after purchasing an additional 3,286,229 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Life Time Group by 102.1% in the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock worth $117,797,000 after buying an additional 2,156,033 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Life Time Group by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock valued at $216,644,000 after buying an additional 2,091,712 shares during the period. Norges Bank acquired a new stake in shares of Life Time Group in the fourth quarter valued at $49,228,000. Finally, Balyasny Asset Management L.P. boosted its stake in Life Time Group by 2,328.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,852,117 shares of the company’s stock valued at $56,175,000 after buying an additional 1,775,837 shares in the last quarter. 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.