Evercore ISI Initiates Coverage on Life Time Group (NYSE:LTH)

Evercore ISI assumed coverage on shares of Life Time Group (NYSE:LTH) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $29.00 price target on the stock.

A number of other brokerages have also commented on LTH. Royal Bank of Canada boosted their price target on Life Time Group from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Life Time Group from $15.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Life Time Group from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Northland Securities increased their target price on Life Time Group from $28.50 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Morgan Stanley increased their target price on 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Life Time Group Stock Up 0.6 %

Shares of Life Time Group stock opened at $24.69 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 0.64. Life Time Group has a 12 month low of $11.89 and a 12 month high of $27.11. The business has a fifty day simple moving average of $24.43 and a 200 day simple moving average of $21.60. The stock has a market cap of $5.11 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.58 and a beta of 1.89.

Life Time Group (NYSE:LTH) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Life Time Group had a return on equity of 6.42% and a net margin of 5.67%. The company had revenue of $693.20 million for the quarter, compared to analyst estimates of $684.13 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Research analysts predict that Life Time Group will post 0.56 EPS for the current year.

Insider Activity

In related news, CFO Erik Weaver sold 4,662 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.88, for a total transaction of $120,652.56. Following the sale, the chief financial officer now owns 75,866 shares of the company’s stock, valued at $1,963,412.08. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Life Time Group

Several hedge funds have recently modified their holdings of LTH. Dimensional Fund Advisors LP boosted its holdings in shares of Life Time Group by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,658,902 shares of the company’s stock valued at $87,728,000 after acquiring an additional 770,766 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in 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 worth $74,487,000 after buying an additional 758,757 shares during the period. Hood River Capital Management LLC lifted its holdings in Life Time Group by 44.0% during the 2nd quarter. Hood River Capital Management LLC now owns 1,811,841 shares of the company’s stock worth $34,117,000 after buying an additional 553,881 shares during the period. Point72 Asset Management L.P. lifted its holdings in Life Time Group by 135.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 890,657 shares of the company’s stock worth $21,750,000 after buying an additional 513,033 shares during the period. Finally, Braun Stacey Associates Inc. lifted its holdings 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 period. Institutional investors and hedge funds own 79.40% of the company’s stock.

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.