Life Time Group (NYSE:LTH) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Life Time Group from “strong buy” to “hold,” though the broader analyst consensus remains “buy” with a $55.31 average price target.
• Life Time Group reported quarterly EPS of $0.48, exceeding the $0.37 estimate, while revenue rose 13.7% year over year to $866 million.
• Insiders sold approximately 6.97 million shares worth $306.3 million over the past 90 days, including sizable sales by an executive vice president and a director.

Life Time Group (NYSE:LTH - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group assumed coverage on Life Time Group in a research note on Monday, August 3rd. They set a "buy" rating and a $53.00 price objective for the company. Bank of America reissued a "buy" rating and set a $51.00 price target on shares of Life Time Group in a research report on Friday, July 31st. Royal Bank Of Canada raised their price target on shares of Life Time Group from $50.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, July 31st. KeyCorp increased their target price on shares of Life Time Group from $40.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group restated a "buy" rating on shares of Life Time Group in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $55.31.

Life Time Group Stock Performance

Shares of NYSE:LTH opened at $41.13 on Monday. The firm has a 50 day moving average of $41.90 and a 200 day moving average of $37.76. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. Life Time Group has a 52 week low of $24.14 and a 52 week high of $47.24.

Life Time Group (NYSE:LTH - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. Life Time Group had a return on equity of 10.56% and a net margin of 13.07%. The business had revenue of $866.00 million for the quarter, compared to analysts' expectations of $845.75 million. During the same quarter last year, the firm earned $0.37 EPS. The business's revenue for the quarter was up 13.7% on a year-over-year basis. On average, sell-side analysts predict that Life Time Group will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ritadhwaja Singh sold 154,912 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $42.00, for a total transaction of $6,506,304.00. Following the sale, the executive vice president owned 138,351 shares in the company, valued at approximately $5,810,742. The trade was a 52.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $126,106,945.20. Following the sale, the director owned 3,029,450 shares in the company, valued at $132,689,910. The trade was a 48.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,971,850 shares of company stock valued at $306,262,084 in the last 90 days. 13.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Life Time Group

Several hedge funds and other institutional investors have recently modified their holdings of LTH. Arizona State Retirement System lifted its position in Life Time Group by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 39,782 shares of the company's stock worth $1,625,000 after acquiring an additional 412 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Life Time Group by 49.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,772 shares of the company's stock valued at $48,000 after purchasing an additional 587 shares during the period. GAMMA Investing LLC increased its holdings in shares of Life Time Group by 24.8% in the third quarter. GAMMA Investing LLC now owns 4,799 shares of the company's stock valued at $191,000 after purchasing an additional 955 shares during the period. Nykredit A S purchased a new position in shares of Life Time Group in the second quarter worth about $47,000. Finally, Versant Capital Management Inc raised its stake in shares of Life Time Group by 286.7% in the second quarter. Versant Capital Management Inc now owns 1,806 shares of the company's stock worth $74,000 after purchasing an additional 1,339 shares during 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 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.

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