Wells Fargo & Company Issues Positive Forecast for Life Time Group (NYSE:LTH) Stock Price

Life Time Group (NYSE:LTH) had its target price increased by Wells Fargo & Company from $26.00 to $28.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Evercore ISI started coverage on shares of Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price objective for the company. Morgan Stanley upped their price target on Life Time Group from $21.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim reissued a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of Life Time Group in a research note on Friday. Finally, Northland Securities upped their target price on Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Life Time Group currently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Life Time Group Stock Up 3.9 %

Shares of Life Time Group stock opened at $27.67 on Friday. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 1.02 and a beta of 1.89. The stock has a 50-day simple moving average of $23.63 and a 200-day simple moving average of $23.27. Life Time Group has a 52-week low of $11.89 and a 52-week high of $27.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.59 and a quick ratio of 0.46.

Life Time Group (NYSE:LTH) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $693.20 million for the quarter, compared to the consensus estimate of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. Life Time Group’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. On average, equities research analysts expect that Life Time Group will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ritadhwaja Jebens Singh sold 25,000 shares of Life Time Group stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the sale, the executive vice president now directly owns 191,626 shares of the company’s stock, valued at $4,790,650. This trade represents a 11.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Parham Javaheri sold 168,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $24.57, for a total value of $4,127,760.00. Following the completion of the transaction, the executive vice president now directly owns 243,938 shares of the company’s stock, valued at approximately $5,993,556.66. This trade represents a 40.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Life Time Group

A number of institutional investors and hedge funds have recently modified their holdings of LTH. Lord Abbett & CO. LLC bought a new stake in Life Time Group in the third quarter valued at about $31,575,000. Dimensional Fund Advisors LP boosted its holdings in Life Time Group by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,658,902 shares of the company’s stock valued at $87,728,000 after purchasing an additional 770,766 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Life Time Group by 33.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 3,050,253 shares of the company’s stock valued at $74,487,000 after purchasing an additional 758,757 shares during the period. Hood River Capital Management LLC raised its holdings in shares of Life Time Group by 44.0% in the 2nd quarter. Hood River Capital Management LLC now owns 1,811,841 shares of the company’s stock worth $34,117,000 after buying an additional 553,881 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Life Time Group by 135.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 890,657 shares of the company’s stock worth $21,750,000 after buying an additional 513,033 shares during the period. 79.40% of the stock is currently owned by institutional investors.

Life Time Group Company Profile

Life Time Group Holdings, Inc provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating of sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.