Life Time Group (NYSE:LTH) Given New $17.00 Price Target at Wells Fargo & Company

Posted by Defense World Staff on Aug 2nd, 2023

Life Time Group (NYSE:LTH – Free Report) had its price objective lifted by Wells Fargo & Company from $16.00 to $17.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

LTH has been the subject of several other reports. Mizuho raised their price objective on shares of Life Time Group from $23.00 to $25.00 and gave the stock a buy rating in a report on Monday, July 24th. Royal Bank of Canada lifted their target price on shares of Life Time Group from $23.00 to $24.00 in a research report on Monday, July 17th. BMO Capital Markets boosted their price objective on shares of Life Time Group from $16.00 to $19.00 in a research report on Wednesday, April 26th. Finally, Guggenheim boosted their price target on shares of Life Time Group from $21.00 to $23.00 in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Life Time Group presently has an average rating of Hold and a consensus price target of $21.75.

Life Time Group Price Performance

LTH stock opened at $17.15 on Tuesday. Life Time Group has a 1 year low of $8.75 and a 1 year high of $22.41. The stock has a market capitalization of $3.34 billion, a PE ratio of 41.83 and a beta of 1.56. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.33 and a quick ratio of 0.23. The company’s 50-day moving average is $19.95 and its 200-day moving average is $18.69.

Life Time Group (NYSE:LTH – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $561.70 million during the quarter, compared to the consensus estimate of $566.85 million. Life Time Group had a net margin of 4.06% and a return on equity of 1.69%. Life Time Group’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. Equities research analysts expect that Life Time Group will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Life Time Group

In other Life Time Group news, SVP Erik Weaver sold 40,703 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $20.00, for a total value of $814,060.00. Following the completion of the sale, the senior vice president now directly owns 66,666 shares of the company’s stock, valued at approximately $1,333,320. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life Time Group

Hedge funds have recently modified their holdings of the business. UBS Group AG lifted its position in shares of Life Time Group by 88.4% in the 1st quarter. UBS Group AG now owns 4,682 shares of the company’s stock worth $68,000 after purchasing an additional 2,197 shares during the period. Tower Research Capital LLC TRC lifted its position in Life Time Group by 259.4% during the first quarter. Tower Research Capital LLC TRC now owns 5,358 shares of the company’s stock valued at $86,000 after acquiring an additional 3,867 shares during the last quarter. Wells Fargo & Company MN lifted its position in Life Time Group by 378.6% during the fourth quarter. Wells Fargo & Company MN now owns 6,475 shares of the company’s stock valued at $77,000 after acquiring an additional 5,122 shares during the last quarter. Assetmark Inc. lifted its position in Life Time Group by 15.8% during the fourth quarter. Assetmark Inc. now owns 6,665 shares of the company’s stock valued at $80,000 after acquiring an additional 909 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Life Time Group by 78.9% during the third quarter. Royal Bank of Canada now owns 6,973 shares of the company’s stock valued at $68,000 after acquiring an additional 3,076 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Life Time Group Company Profile

(Get Free Report)

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 sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas.