Roth Mkm Raises Planet Fitness (NYSE:PLNT) Price Target to $88.00

Planet Fitness (NYSE:PLNT) had its target price hoisted by Roth Mkm from $73.00 to $88.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the company. Jefferies Financial Group upgraded Planet Fitness from a hold rating to a buy rating and upped their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. BMO Capital Markets reaffirmed an outperform rating and set a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a report on Wednesday. Robert W. Baird increased their price target on shares of Planet Fitness from $88.00 to $92.00 and gave the stock an outperform rating in a research report on Wednesday. Piper Sandler lifted their price objective on Planet Fitness from $80.00 to $89.00 and gave the company an overweight rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada raised their target price on Planet Fitness from $77.00 to $87.00 and gave the stock an outperform rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $79.87.

Planet Fitness Trading Up 1.0 %

PLNT traded up $0.80 during trading on Wednesday, hitting $79.04. The stock had a trading volume of 2,469,125 shares, compared to its average volume of 1,617,193. The firm has a market cap of $6.97 billion, a PE ratio of 45.43, a P/E/G ratio of 2.57 and a beta of 1.49. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $79.53. The company has a 50 day simple moving average of $73.22 and a 200-day simple moving average of $66.95.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share 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 previous year, the firm earned $0.65 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Planet Fitness will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the business’s 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 sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.94% of the stock is currently owned by company insiders.

Institutional Trading of Planet Fitness

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the period. LRI Investments LLC raised 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 purchasing an additional 153 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Planet Fitness by 1.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock worth $1,026,000 after buying an additional 174 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Planet Fitness by 0.3% during the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after buying an additional 179 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Planet Fitness by 2.8% during the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock worth $494,000 after buying an additional 182 shares during the period. 95.53% of the stock is owned by institutional investors.

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.