Life Time Group (NYSE:LTH) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Life Time Group (NYSE:LTH) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $37.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 38.23% from the company’s previous close.

Other research analysts have also issued research reports about the company. Morgan Stanley raised their price objective on Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Zacks Research raised shares of Life Time Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Guggenheim reiterated a “buy” rating and issued a $36.00 target price on shares of Life Time Group in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a research report on Thursday, January 22nd. Finally, Northland Securities set a $42.00 price objective on shares of Life Time Group in a research note on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Life Time Group currently has an average rating of “Moderate Buy” and an average target price of $39.25.

Life Time Group Trading Down 1.2%

LTH stock opened at $26.77 on Wednesday. The business’s 50-day moving average is $28.07 and its 200 day moving average is $27.17. Life Time Group has a 12-month low of $24.14 and a 12-month high of $34.99. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.21 and a beta of 1.69. The company has a current ratio of 0.63, a quick ratio of 0.52 and a debt-to-equity ratio of 0.48.

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

Insider Activity

In related news, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $29.75, for a total transaction of $359,618.00. Following the completion of the sale, the executive vice president directly owned 110,967 shares in the company, valued at approximately $3,301,268.25. This trade represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Erik Weaver sold 1,493 shares of Life Time Group stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $29.90, for a total transaction of $44,640.70. Following the transaction, the chief financial officer directly owned 77,771 shares in the company, valued at $2,325,352.90. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,790 shares of company stock worth $616,677. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Life Time Group

Several hedge funds have recently made changes to their positions in LTH. Vanguard Group Inc. increased its holdings in shares of Life Time Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,643,761 shares of the company’s stock worth $362,651,000 after buying an additional 143,487 shares during the last quarter. Ameriprise Financial Inc. grew its position in Life Time Group by 41.3% in the second quarter. Ameriprise Financial Inc. now owns 7,157,957 shares of the company’s stock worth $216,644,000 after acquiring an additional 2,091,712 shares during the period. Dimensional Fund Advisors LP grew its position in Life Time Group by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,021,829 shares of the company’s stock worth $186,646,000 after acquiring an additional 1,061,839 shares during the period. Wellington Management Group LLP increased its stake in Life Time Group by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 5,863,510 shares of the company’s stock worth $155,852,000 after acquiring an additional 34,964 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Life Time Group by 102.1% in the third quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock valued at $117,797,000 after purchasing an additional 2,156,033 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Life Time Group Company Profile

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.