Jefferies Financial Group Initiates Coverage on Life Time Group (NYSE:LTH)

Equities research analysts at Jefferies Financial Group began coverage on shares of Life Time Group (NYSE:LTH) in a report issued on Tuesday. The firm set a “buy” rating and a $40.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 47.36% from the stock’s previous close.

A number of other equities research analysts have also recently commented on LTH. Weiss Ratings restated a “hold (c+)” rating on shares of Life Time Group in a research note on Thursday, January 22nd. Morgan Stanley lifted their price objective on shares of Life Time Group from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Northland Securities set a $42.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. Zacks Research upgraded shares of Life Time Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Guggenheim reissued a “buy” rating and set a $36.00 price target on shares of Life Time Group in a research report on Friday, January 23rd. Five equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.57.

Life Time Group Stock Performance

Shares of LTH stock opened at $27.15 on Tuesday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.52 and a current ratio of 0.63. Life Time Group has a one year low of $24.14 and a one year high of $34.99. The company’s 50-day moving average is $28.07 and its 200 day moving average is $27.19.

Life Time Group (NYSE:LTH) last issued its earnings results on Tuesday, February 24th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 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 prior year, the business earned $0.27 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Life Time Group will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Erik Weaver sold 1,329 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $25.73, for a total transaction of $34,195.17. Following the completion of the sale, the chief financial officer owned 136,166 shares in the company, valued at approximately $3,503,551.18. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ritadhwaja Jebens Singh sold 5,880 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.31, for a total value of $178,222.80. Following the completion of the transaction, the executive vice president directly owned 102,144 shares in the company, valued at $3,095,984.64. This trade represents a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,790 shares of company stock worth $616,677. 8.70% of the stock is owned by insiders.

Institutional Trading of Life Time Group

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 valued at $362,651,000 after acquiring an additional 143,487 shares in the last quarter. Ameriprise Financial Inc. raised 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 last quarter. Dimensional Fund Advisors LP boosted its stake in Life Time Group by 17.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,021,829 shares of the company’s stock worth $186,646,000 after purchasing an additional 1,061,839 shares during the period. Wellington Management Group LLP raised its position 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 in the last quarter. Finally, Bank of America Corp DE raised its position in Life Time Group by 102.1% during the 3rd quarter. Bank of America Corp DE now owns 4,268,011 shares of the company’s stock worth $117,797,000 after purchasing an additional 2,156,033 shares during the last quarter. 79.40% of the stock is currently 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.