Life Time Group (NYSE:LTH) Coverage Initiated at KeyCorp

KeyCorp assumed coverage on shares of Life Time Group (NYSE:LTH) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $40.00 price target on the stock. KeyCorp’s price objective would suggest a potential upside of 50.12% from the company’s current price.

Several other equities analysts also recently commented on LTH. Morgan Stanley upped their price objective on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Guggenheim reaffirmed a “buy” rating and set a $36.00 target price on shares of Life Time Group in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Life Time Group in a report on Thursday, January 22nd. Northland Securities set a $42.00 price objective on shares of Life Time Group in a research report on Friday, January 23rd. Finally, Jefferies Financial Group started coverage on Life Time Group in a report on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Life Time Group presently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Life Time Group Stock Performance

LTH opened at $26.65 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. Life Time Group has a 12-month low of $24.14 and a 12-month high of $34.99. The business has a 50 day moving average of $28.07 and a 200-day moving average of $27.17. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.20 and a beta of 1.69.

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

Insider Transactions at Life Time Group

In other news, EVP Ritadhwaja Jebens Singh sold 12,088 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 110,967 shares in the company, valued at approximately $3,301,268.25. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erik Weaver sold 1,493 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $29.90, for a total value of $44,640.70. Following the completion of the transaction, the chief financial officer owned 77,771 shares of the company’s stock, valued at $2,325,352.90. The trade was a 1.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,790 shares of company stock valued at $616,677 in the last three months. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Life Time Group

A number of institutional investors and hedge funds have recently bought and sold shares of LTH. GAMMA Investing LLC raised 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 valued at $32,000 after purchasing an additional 721 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Life Time Group during the third quarter worth about $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Life Time Group by 201.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,499 shares of the company’s stock valued at $45,000 after buying an additional 1,002 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Life Time Group by 2,741.7% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,705 shares of the company’s stock valued at $52,000 after buying an additional 1,645 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in Life Time Group during the 3rd quarter worth approximately $69,000. Institutional investors and hedge funds 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.