Planet Fitness (PLNT) Given a $55.00 Price Target at Roth Capital

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Roth Capital set a $55.00 price objective on Planet Fitness (NYSE:PLNT) in a report published on Saturday. The brokerage currently has a buy rating on the stock.

PLNT has been the subject of several other research reports. Wedbush boosted their price target on Planet Fitness from $35.00 to $48.00 and gave the company a neutral rating in a report on Friday. TheStreet raised Planet Fitness from a c- rating to a b rating in a report on Monday, August 6th. ValuEngine raised Planet Fitness from a hold rating to a buy rating in a report on Wednesday, May 2nd. DA Davidson boosted their price target on Planet Fitness to $56.00 and gave the company a buy rating in a report on Monday, July 23rd. Finally, Cowen boosted their price target on Planet Fitness from $45.00 to $50.00 and gave the company an outperform rating in a report on Monday, June 11th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $52.09.

NYSE:PLNT traded up $3.15 during mid-day trading on Friday, hitting $51.94. 3,689,866 shares of the company traded hands, compared to its average volume of 966,541. Planet Fitness has a one year low of $23.49 and a one year high of $53.41. The company has a debt-to-equity ratio of -5.68, a quick ratio of 1.70 and a current ratio of 1.74. The firm has a market capitalization of $4.80 billion, a PE ratio of 61.83, a P/E/G ratio of 2.08 and a beta of 0.52.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Planet Fitness had a negative return on equity of 76.38% and a net margin of 11.68%. The business had revenue of $140.55 million during the quarter, compared to analyst estimates of $130.99 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Planet Fitness’s revenue for the quarter was up 31.0% on a year-over-year basis. equities analysts forecast that Planet Fitness will post 1.12 earnings per share for the current fiscal year.

In other news, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $43.57, for a total value of $871,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 438,446 shares of company stock worth $20,255,037 over the last 90 days. Company insiders own 19.87% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc lifted its position in shares of Planet Fitness by 47.4% in the second quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock valued at $230,000 after acquiring an additional 1,706 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Planet Fitness by 10.2% in the first quarter. Commonwealth Equity Services LLC now owns 20,670 shares of the company’s stock valued at $780,000 after acquiring an additional 1,906 shares in the last quarter. Amalgamated Bank lifted its position in shares of Planet Fitness by 16.9% in the second quarter. Amalgamated Bank now owns 13,525 shares of the company’s stock valued at $594,000 after acquiring an additional 1,959 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Planet Fitness by 44.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,194 shares of the company’s stock valued at $316,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Planet Fitness by 20.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 13,090 shares of the company’s stock valued at $575,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 94.00% of the company’s stock.

About Planet Fitness

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

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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