Planet Fitness (NYSE:PLNT) Lifted to “Outperform” at BNP Paribas

BNP Paribas upgraded shares of Planet Fitness (NYSE:PLNT) from a neutral rating to an outperform rating in a report issued on Thursday morning, MarketBeat.com reports. BNP Paribas currently has $97.00 target price on the stock.

PLNT has been the topic of several other research reports. Jefferies Financial Group raised shares of Planet Fitness from a hold rating to a buy rating and lifted their target price for the company from $62.00 to $100.00 in a report on Monday, June 10th. Piper Sandler boosted their target price on Planet Fitness from $80.00 to $89.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. TD Cowen raised Planet Fitness from a hold rating to a buy rating and raised their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. Raymond James lifted their price target on Planet Fitness from $75.00 to $80.00 and gave the company a strong-buy rating in a research note on Friday, May 10th. Finally, DA Davidson reiterated a neutral rating and issued a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $84.87.

Planet Fitness Trading Down 0.2 %

Planet Fitness stock opened at $81.56 on Thursday. The stock has a 50 day moving average of $77.05 and a two-hundred day moving average of $68.61. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $83.36. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 2.72 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that Planet Fitness will post 2.44 earnings per share for the current year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares during the last quarter. LRI Investments LLC lifted its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness during the first quarter valued at $27,000. Quarry LP increased its position in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new stake in Planet Fitness during the 2nd quarter worth about $82,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.