Planet Fitness, Inc. (NYSE:PLNT) Receives $84.87 Consensus Price Target from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $85.93.

A number of equities analysts recently commented on the company. Roth Mkm increased their price target on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 target price (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Bank of America boosted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a research report on Thursday, September 5th. Finally, Piper Sandler boosted their target price on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently added to or reduced their stakes in PLNT. LRI Investments LLC raised its position in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Planet Fitness by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock worth $1,026,000 after acquiring an additional 174 shares during the period. Teacher Retirement System of Texas grew its holdings in 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 acquiring an additional 182 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Planet Fitness by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after purchasing an additional 200 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Planet Fitness by 1.5% in the 1st quarter. Diversified Trust Co now owns 20,564 shares of the company’s stock worth $1,288,000 after purchasing an additional 308 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT opened at $81.62 on Wednesday. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $83.98. The company has a 50 day simple moving average of $78.05 and a two-hundred day simple moving average of $69.42. The firm has a market cap of $6.95 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. During the same period in the previous year, the firm posted $0.65 EPS. Planet Fitness’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Planet Fitness will post 2.44 earnings per share for the current year.

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.