Life Time Group Holdings, Inc. (NYSE:LTH) Receives Consensus Recommendation of “Buy” from Brokerages

Life Time Group Holdings, Inc. (NYSE:LTH) has received an average recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $55.3077.

A number of research firms recently issued reports on LTH. Royal Bank Of Canada lifted their target price on Life Time Group from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Bank of America reissued a “buy” rating and issued a $51.00 price target on shares of Life Time Group in a report on Friday, July 31st. Zacks Research upgraded shares of Life Time Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group began coverage on shares of Life Time Group in a research note on Monday, August 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Oppenheimer boosted their target price on shares of Life Time Group from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th.

Life Time Group Trading Up 3.8%

Shares of NYSE:LTH opened at $39.64 on Friday. The company has a 50 day moving average of $43.16 and a 200-day moving average of $35.88. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm has a market cap of $8.86 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.38 and a beta of 1.48. Life Time Group has a twelve month low of $24.14 and a twelve month high of $47.24.

Life Time Group (NYSE:LTH) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.48 EPS 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 analyst estimates of $845.75 million. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, analysts anticipate that Life Time Group will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Galashan sold 2,879,154 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $43.80, for a total transaction of $126,106,945.20. Following the completion of the sale, the director owned 3,029,450 shares in the company, valued at approximately $132,689,910. This represents a 48.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Buss sold 479,240 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $44.97, for a total value of $21,551,422.80. Following the sale, the executive vice president owned 474,008 shares of the company’s stock, valued at $21,316,139.76. This trade represents a 50.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,966,063 shares of company stock valued at $306,031,935 in the last three months. Insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Life Time Group by 15.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,090,037 shares of the company’s stock worth $217,929,000 after purchasing an additional 1,068,208 shares during the period. Wellington Management Group LLP boosted its position in Life Time Group by 1.6% during the second quarter. Wellington Management Group LLP now owns 6,308,310 shares of the company’s stock valued at $257,631,000 after purchasing an additional 99,154 shares during the last quarter. Geode Capital Management LLC grew its stake in Life Time Group by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 3,519,811 shares of the company’s stock valued at $93,572,000 after purchasing an additional 207,822 shares in the last quarter. Principal Financial Group Inc. increased its position in Life Time Group by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,589,462 shares of the company’s stock worth $69,760,000 after purchasing an additional 397,248 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Life Time Group during the 4th quarter worth about $49,228,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

Life Time Group Company Profile

Life Time Group Holdings, Inc operates a network of athletic country clubs and wellness facilities in the United States and Canada. The company provides an integrated range of fitness, health, and lifestyle services designed for individuals and families.

Its clubs typically offer fitness equipment and classes, personal training, indoor and outdoor pools, courts for sports such as tennis and pickleball, childcare, spa services, cafes, and spaces for social and work-related activities. Life Time also provides digital fitness content, nutrition and wellness programs, recreational activities, and athletic events through its clubs and online platforms.

Founded in 1992, the company was originally known as Life Time Fitness before becoming Life Time Group Holdings.