NEW YORK (TheStreet) -- Shares of Life Time Fitness Inc. (LTM) are down by -14.23% to $40.52 on heavy volume in mid-afternoon trading on Thursday, after the company reported net income and revenue for the 2014 second quarter that didn't meet analysts' expectations.
The gym and spa operator said its net income for the quarter was $29.8 million, or 76 cents per diluted share for the most recent quarter, compared to $33.2 million, or 80 cents per diluted share for the 2013 second quarter.
Analysts polled by Thomson Reuters expected Life Time Fitness to post earnings of 81 cents per share.
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The company's revenue for the 2014 second quarter increased 6% to $326.6 million versus $308.1 million for the year ago quarter, missing analysts' estimates of $332.17.
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 several positive factors, 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, increase in net income, reasonable valuation levels, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."