NEW YORK (TheStreet) --Shares of Life Time Fitness (LTM) are down -1.87% to $51.02 in pre-market trading this morning following a ratings downgrade to "neutral" from "overweight" at Piper Jaffray (PJC).
The firm said it lowered its rating on the sports recreation and spa centers company based on significant studio competition.
Piper Jaffray cut its price target on Life Time Fitness to $54 from $59.
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Separately, TheStreet Ratings team rates LIFE TIME FITNESS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIFE TIME FITNESS INC (LTM) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, growth in earnings per share and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."