Life Time Group (NYSE:LTH) Price Target Raised to $29.00 at Morgan Stanley

Life Time Group (NYSE:LTH) had its price target boosted by Morgan Stanley from $21.00 to $29.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently commented on LTH. Royal Bank of Canada boosted their target price on shares of Life Time Group from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Northland Securities increased their price target on Life Time Group from $27.00 to $28.50 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Life Time Group from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Craig Hallum began coverage on shares of Life Time Group in a report on Friday, July 19th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Bank of America boosted their price target on shares of Life Time Group from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Life Time Group has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Life Time Group Stock Performance

NYSE:LTH opened at $25.60 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.32 and a current ratio of 0.44. Life Time Group has a fifty-two week low of $11.10 and a fifty-two week high of $27.11. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 71.11, a PEG ratio of 3.20 and a beta of 1.87. The stock has a fifty day moving average price of $24.20 and a 200-day moving average price of $19.66.

Life Time Group (NYSE:LTH) last released its earnings results on Thursday, August 1st. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.10. The firm had revenue of $667.80 million during the quarter, compared to analysts’ expectations of $634.92 million. Life Time Group had a return on equity of 5.36% and a net margin of 4.54%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities analysts anticipate that Life Time Group will post 0.56 EPS for the current fiscal year.

Insider Activity at Life Time Group

In related news, Director John G. Danhakl sold 3,575,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total transaction of $74,646,000.00. Following the completion of the transaction, the director now owns 55,166,700 shares of the company’s stock, valued at $1,151,880,696. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John G. Danhakl sold 3,575,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $20.88, for a total value of $74,646,000.00. Following the completion of the transaction, the director now owns 55,166,700 shares in the company, valued at $1,151,880,696. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Partners Group Private Equity sold 650,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $20.88, for a total transaction of $13,572,000.00. Following the transaction, the insider now owns 5,929,348 shares in the company, valued at $123,804,786.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank increased its stake in Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company’s stock worth $38,000 after buying an additional 563 shares in the last quarter. Dnca Finance purchased a new stake in shares of Life Time Group during the second quarter worth about $72,000. SG Americas Securities LLC bought a new stake in Life Time Group during the 2nd quarter valued at approximately $141,000. Hsbc Holdings PLC purchased a new position in Life Time Group in the 2nd quarter worth approximately $192,000. Finally, Entropy Technologies LP bought a new position in Life Time Group in the 1st quarter worth approximately $198,000. Institutional investors own 79.40% of the company’s stock.

About Life Time Group

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.