KeyCorp Issues Positive Forecast for Life Time Group (NYSE:LTH) Stock Price

Life Time Group (NYSE:LTH) had its target price hoisted by research analysts at KeyCorp from $40.00 to $52.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 16.99% from the stock’s previous close.

A number of other research firms have also commented on LTH. Jefferies Financial Group boosted their price objective on Life Time Group from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Wells Fargo & Company increased their target price on Life Time Group from $38.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Life Time Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Guggenheim restated a “buy” rating on shares of Life Time Group in a report on Friday. Finally, Bank of America restated a “buy” rating and issued a $51.00 price target on shares of Life Time Group in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Life Time Group currently has a consensus rating of “Buy” and a consensus target price of $48.46.

Life Time Group Trading Down 2.7%

NYSE:LTH opened at $44.45 on Friday. The stock’s 50-day moving average is $38.20 and its two-hundred day moving average is $31.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.53 and a quick ratio of 0.42. The stock has a market cap of $9.89 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.83 and a beta of 1.51. Life Time Group has a fifty-two week low of $24.14 and a fifty-two week high of $47.24.

Life Time Group (NYSE:LTH) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.11. The business had revenue of $866.00 million for the quarter, compared to the consensus estimate of $845.75 million. Life Time Group had a net margin of 12.56% and a return on equity of 10.10%. Life Time Group’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts forecast that Life Time Group will post 1.53 earnings per share for the current fiscal year.

Insider Transactions at Life Time Group

In other news, EVP Ritadhwaja Jebens Singh sold 67,751 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $38.65, for a total transaction of $2,618,576.15. Following the completion of the sale, the executive vice president directly owned 138,351 shares of the company’s stock, valued at $5,347,266.15. This trade represents a 32.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John G. Danhakl sold 2,208,580 shares of the business’s 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 completion of the sale, the director directly owned 11,027,703 shares in the company, valued at approximately $315,392,305.80. This trade represents a 16.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 27,943,861 shares of company stock worth $857,228,555. 13.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its position in shares of Life Time Group by 138.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock worth $2,589,000 after purchasing an additional 36,800 shares during the period. GAMMA Investing LLC raised its stake in Life Time Group by 36.6% in the second quarter. GAMMA Investing LLC now owns 3,844 shares of the company’s stock worth $157,000 after buying an additional 1,029 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Life Time Group in the second quarter worth about $459,000. Versant Capital Management Inc boosted its position in Life Time Group by 286.7% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Life Time Group by 49.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company’s stock worth $48,000 after acquiring an additional 587 shares during the period. 79.40% of the stock is owned by hedge funds and other institutional investors.

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.