Mizuho Forecasts Strong Price Appreciation for Life Time Group (NYSE:LTH) Stock

Life Time Group (NYSE:LTH) had its target price raised by Mizuho from $38.00 to $41.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 29.88% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group raised their price target on Life Time Group from $22.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday. Northland Securities boosted their target price on shares of Life Time Group from $29.00 to $31.50 and gave the company an “outperform” rating in a research note on Friday, January 17th. Oppenheimer raised their price target on shares of Life Time Group from $33.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their price objective on shares of Life Time Group from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company raised their target price on shares of Life Time Group from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.86.

Life Time Group Stock Performance

Shares of LTH opened at $31.57 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Life Time Group has a 12-month low of $12.34 and a 12-month high of $33.64. The stock has a market cap of $6.53 billion, a P/E ratio of 45.75, a PEG ratio of 0.81 and a beta of 1.94. The company has a 50-day moving average of $28.07 and a two-hundred day moving average of $25.49.

Insiders Place Their Bets

In other news, CEO Bahram Akradi sold 5,000,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $30.13, for a total transaction of $150,650,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,993,849 shares in the company, valued at $90,204,670.37. This represents a 62.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.00, for a total value of $1,360,688.00. Following the sale, the executive vice president now directly owns 143,030 shares of the company’s stock, valued at approximately $4,004,840. This trade represents a 25.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,082,147 shares of company stock valued at $152,891,556 over the last quarter. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Life Time Group

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in Life Time Group by 7,344.2% in the fourth quarter. Marshall Wace LLP now owns 1,361,032 shares of the company’s stock valued at $30,106,000 after purchasing an additional 1,342,749 shares during the period. Lord Abbett & CO. LLC acquired a new position in Life Time Group during the 3rd quarter worth approximately $31,575,000. Norges Bank purchased a new position in Life Time Group in the 4th quarter worth approximately $19,198,000. Loomis Sayles & Co. L P boosted its stake in shares of Life Time Group by 33.1% in the third 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. Finally, American Century Companies Inc. grew its holdings in Life Time Group by 61.9% during the 4th quarter. American Century Companies Inc. now owns 1,924,461 shares of the company’s stock valued at $42,569,000 after purchasing an additional 735,682 shares in the last quarter. 79.40% of the stock is owned by hedge funds and other 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.