Life Time Group (NYSE:LTH) Hits New 12-Month High on Analyst Upgrade

Life Time Group Holdings, Inc. (NYSE:LTH - Get Free Report) shares hit a new 52-week high during trading on Thursday after Oppenheimer raised their price target on the stock from $33.00 to $43.00. Oppenheimer currently has an outperform rating on the stock. Life Time Group traded as high as $28.86 and last traded at $28.45, with a volume of 1913698 shares traded. The stock had previously closed at $28.30.

A number of other equities analysts have also recently issued reports on LTH. Wells Fargo & Company raised their price objective on shares of Life Time Group from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Evercore ISI assumed coverage on Life Time Group in a research note on Friday, November 22nd. They set an "outperform" rating and a $29.00 price objective for the company. Morgan Stanley increased their target price on Life Time Group from $21.00 to $29.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Guggenheim restated a "buy" rating and set a $32.00 target price (up from $29.00) on shares of Life Time Group in a research report on Friday, January 17th. Finally, Northland Securities increased their price target on shares of Life Time Group from $29.00 to $31.50 and gave the company an "outperform" rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.95.

Insiders Place Their Bets

In other news, EVP Ritadhwaja Jebens Singh sold 48,596 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $28.00, for a total transaction of $1,360,688.00. Following the completion of the transaction, the executive vice president now directly owns 143,030 shares in the company, valued at $4,004,840. This represents a 25.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Parham Javaheri sold 168,000 shares of the firm'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 owns 243,938 shares of the company's stock, valued at approximately $5,993,556.66. This represents a 40.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,596 shares of company stock worth $6,113,448. Corporate insiders own 12.50% of the company's stock.

Institutional Trading of Life Time Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its position in shares of Life Time Group by 38.2% in the 2nd quarter. Amalgamated Bank now owns 2,036 shares of the company's stock valued at $38,000 after buying an additional 563 shares in the last quarter. R Squared Ltd bought a new position in Life Time Group in the fourth quarter valued at approximately $42,000. Farther Finance Advisors LLC raised its position in Life Time Group by 105.8% during the third quarter. Farther Finance Advisors LLC now owns 1,762 shares of the company's stock valued at $43,000 after purchasing an additional 906 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Life Time Group during the third quarter worth $60,000. Finally, Blue Trust Inc. boosted its holdings in shares of Life Time Group by 345.5% in the 3rd quarter. Blue Trust Inc. now owns 2,940 shares of the company's stock valued at $72,000 after purchasing an additional 2,280 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company's stock.

Life Time Group Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The company has a market cap of $5.92 billion, a P/E ratio of 41.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.89. The company has a 50 day moving average price of $23.85 and a 200-day moving average price of $23.50.

Life Time Group (NYSE:LTH - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $693.20 million during the quarter, compared to analyst estimates 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 posted $0.09 earnings per share. On average, equities analysts expect that Life Time Group Holdings, Inc. will post 0.74 earnings per share for the current fiscal year.

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.