Life Time Group (NYSE:LTH) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Life Time Group (NYSE:LTH) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks reports.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price objective on Life Time Group from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wells Fargo & Company raised their price objective on Life Time Group from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. The Goldman Sachs Group began coverage on Life Time Group in a report on Monday, August 3rd. They issued a “buy” rating and a $53.00 target price for the company. Jefferies Financial Group reissued a “buy” rating on shares of Life Time Group in a research report on Wednesday, September 23rd. Finally, Northland Securities set a $57.00 price target on Life Time Group in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $55.31.

Life Time Group Price Performance

Life Time Group stock opened at $41.13 on Monday. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.66 and a quick ratio of 0.56. Life Time Group has a 1 year low of $24.14 and a 1 year high of $47.24. The firm has a 50-day moving average of $41.90 and a two-hundred day moving average of $37.76.

Life Time Group (NYSE:LTH) last issued its earnings results on Thursday, July 30th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. The business had revenue of $866.00 million for the quarter, compared to the consensus estimate of $845.75 million. Life Time Group had a net margin of 13.07% and a return on equity of 10.56%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. On average, research analysts forecast that Life Time Group will post 1.59 earnings per share for the current year.

Insider Activity at Life Time Group

In other Life Time Group news, CFO Erik Weaver sold 5,787 shares of Life Time Group stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $39.77, for a total value of $230,148.99. Following the transaction, the chief financial officer owned 83,131 shares in the company, valued at $3,306,119.87. The trade was a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Galashan sold 2,879,154 shares of the business’s stock in a transaction dated 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 transaction, the director owned 3,029,450 shares of the company’s stock, valued at $132,689,910. This represents a 48.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,971,850 shares of company stock valued at $306,262,084 over the last 90 days. Company insiders own 13.30% of the company’s stock.

Institutional Trading of Life Time Group

A number of institutional investors have recently modified their holdings of LTH. Quantinno Capital Management LP boosted its stake in Life Time Group by 455.2% in the first quarter. Quantinno Capital Management LP now owns 76,101 shares of the company’s stock valued at $2,050,000 after acquiring an additional 62,393 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Life Time Group by 138.3% in the second quarter. Handelsbanken Fonder AB now owns 63,400 shares of the company’s stock worth $2,589,000 after purchasing an additional 36,800 shares during the last quarter. Maven Securities LTD purchased a new position in Life Time Group in the second quarter worth $1,034,000. Squarepoint Ops LLC purchased a new position in Life Time Group in the second quarter worth $2,183,000. Finally, Tidal Investments LLC acquired a new position in shares of Life Time Group during the second quarter worth $14,439,000. 79.40% of the stock is currently owned by institutional investors.

About Life Time Group

Life Time Group Holdings, Inc (NYSE: LTH) operates a network of luxury athletic country clubs in the United States and Canada. The company’s facilities combine fitness, sports, health, and wellness services in an integrated club environment designed for individuals and families.

Life Time clubs typically offer cardiovascular and strength-training equipment, group fitness classes, personal training, indoor and outdoor pools, tennis, pickleball, basketball, and other athletic programs. Many locations also provide childcare, spas, cafés, workspaces, recovery services, and specialized programs for children, older adults, and other member groups.