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

Life Time Group (NYSE:LTH) had its price objective raised by Mizuho from $32.00 to $38.00 in a research note published on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

LTH has been the topic of a number of other research reports. Wells Fargo & Company lifted their price objective on Life Time Group from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Northland Securities boosted their price target on shares of Life Time Group from $29.00 to $31.50 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Guggenheim reiterated a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of Life Time Group in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on shares of 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. Finally, Evercore ISI began coverage on shares of Life Time Group in a report on Friday, November 22nd. They issued an “outperform” rating and a $29.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.77.

Life Time Group Price Performance

Shares of NYSE:LTH opened at $28.68 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 0.71 and a beta of 1.89. The firm has a fifty day moving average price of $23.95 and a 200 day moving average price of $23.54. Life Time Group has a fifty-two week low of $11.89 and a fifty-two week high of $28.92.

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 analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $693.20 million for the quarter, compared to analysts’ expectations of $684.13 million. Life Time Group had a net margin of 5.67% and a return on equity of 6.42%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, sell-side analysts expect that Life Time Group will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Parham Javaheri sold 168,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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. The trade was a 40.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ritadhwaja Jebens Singh sold 25,000 shares of Life Time Group stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the completion of the transaction, the executive vice president now owns 191,626 shares in the company, valued at $4,790,650. This trade represents a 11.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,596 shares of company stock valued at $6,113,448. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Life Time Group

A number of institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Life Time Group during the third quarter valued at approximately $31,575,000. Loomis Sayles & Co. L P lifted its holdings in shares of Life Time Group by 33.1% during 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 last quarter. Point72 Asset Management L.P. boosted its position in shares of Life Time Group by 135.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 890,657 shares of the company’s stock worth $21,750,000 after purchasing an additional 513,033 shares in the last quarter. Braun Stacey Associates Inc. grew its stake in Life Time Group by 113.7% during the 3rd quarter. Braun Stacey Associates Inc. now owns 849,792 shares of the company’s stock worth $20,752,000 after buying an additional 452,197 shares during the last quarter. Finally, Millennium Management LLC increased its position in Life Time Group by 66.7% during the 2nd quarter. Millennium Management LLC now owns 1,076,386 shares of the company’s stock valued at $20,268,000 after buying an additional 430,779 shares in the last quarter. 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.