Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Moderate Buy” by Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $97.69.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Stifel Nicolaus upped their target price on Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company.

Planet Fitness Stock Down 1.4 %

Shares of NYSE PLNT opened at $104.47 on Tuesday. The business’s 50 day moving average price is $100.20 and its 200 day moving average price is $86.96. The firm has a market cap of $8.84 billion, a P/E ratio of 56.17, a P/E/G ratio of 2.87 and a beta of 1.52. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $107.68.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness will post 2.5 earnings per share for the current year.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of PLNT. Victory Capital Management Inc. increased its stake in shares of Planet Fitness by 3.3% in the 2nd quarter. Victory Capital Management Inc. now owns 18,202 shares of the company’s stock worth $1,339,000 after acquiring an additional 584 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Planet Fitness by 4.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 19,388 shares of the company’s stock worth $1,427,000 after acquiring an additional 800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock worth $80,910,000 after acquiring an additional 173,536 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Planet Fitness by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock worth $498,000 after acquiring an additional 947 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Planet Fitness by 173.5% during the 2nd quarter. XTX Topco Ltd now owns 22,674 shares of the company’s stock worth $1,669,000 after purchasing an additional 14,385 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

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.