| Over a week ago | ||||
RBC Capital analyst… RBC Capital analyst Christopher Carril raised the firm's price target on Life Time Group to $21 from $20 and keeps an Outperform rating on the shares after its Q4 earnings beat. While bears point to the company's elevated capital intensity, there is upside in the stock, driven by membership and price-driven top-line growth along with the flow-through of cost savings and balance sheet deleveraging, the analyst tells investors in a research note. | ||||
As part of its Q4… As part of its Q4 earnings yesterday, the company also forecast Q1 adjusted EBITDA OF $108M-$110M vs. $41M last year. Life Time Group also guided FY23 revenue of $2.2B-$2.3B vs. $1.82B last year and adjusted EBITDA OF $270M-$280M vs. $245M in FY22. | ||||
Mizuho raised the… Mizuho raised the firm's price target on Life Time Group to $20 from $17 and keeps a Buy rating on the shares. The company's Q4 showed strong momentum but plans for larger enrollment fees rekindle concerns about how far pricing can be pushed, the analyst tells investors in a research note. The firm, however, believes very targeted pricing adjustments minimize disruption risks. | ||||
Reports Q4 revenue… Reports Q4 revenue $472.66M, consensus $472.81M. Average monthly dues per center membership increased approximately 20% to $162. Net center memberships declined approximately 3,500. Bahram Akradi, founder, chairman and CEO, stated: "We had a strong 2022 and believe we are entering 2023 with great momentum in our business. Our strategies are working. The strategic investments we have made are driving increased club usage and memberships. We are also optimizing our pricing to continue to enhance our member experience, increase center revenue per center membership and deliver margin expansion. In 2023, our top priority is to improve our balance sheet, including by growing our revenue and increasing our operating margin to reduce our leverage. Our entire organization is united in delivering incredible experiences to our members and continued strong financial performance." | ||||
Life Time Group announced… Life Time Group announced that the company has entered into a non-binding letter of intent for the sale-leaseback of one property in a transaction totaling approximately $45M in gross proceeds. The proposed transaction is with an institutional real estate investor that has completed multiple sale-leaseback transactions with Life Time previously. The parties intend for the sale and leaseback of the property to be completed in May. Terms are consistent with the company's past transactions. | ||||
| Over a month ago | ||||
Meetings to be held with… Meetings to be held with CEO Akradi and CFO Houghton in New York on February 1 and in Baltimore on February 2 hosted by Oppenheimer. | ||||
Meetings to be held with… Meetings to be held with CEO Akradi and CFO Houghton in New York on February 1 and in Baltimore on February 2 hosted by Oppenheimer. | ||||
Life Time Group announced… Life Time Group announced that the company has entered into non-binding letters of intent for the sale-leaseback of two properties in transactions totaling approximately $78M with institutional real estate investors that have completed multiple sale-leaseback transactions with Life Time previously. The parties intend for the sale and leaseback of the first property to be completed by March 31 for approximately $33M in gross proceeds to Life Time. The sale and leaseback of the second property, which currently is under construction, is expected to be completed by September 30 for approximately $45M. Terms for both deals are consistent with the company's past transactions. | ||||
Meetings to be held with… Meetings to be held with CEO Akradi and CFO Houghton in New York on February 1 and in Baltimore on February 2 hosted by Oppenheimer. | ||||
Guggenheim analyst John… Guggenheim analyst John Heinbockel raised the firm's price target on Life Time Group to $21 from $17 and keeps a Buy rating on the shares, citing the company's better-than-expected preliminary Q4 results, "seemingly conservative" initial 2023 guidance, and management's commitment to improving profitability. The firm's 2023 estimates are near the respective guidance midpoints, but it has "greater confidence that the high end of the EBITDA target can be exceeded," Guggenheim tells investors. | ||||
