Planet Fitness, Inc. (NYSE:PLNT) Receives $91.81 Consensus PT from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $93.38.

Several brokerages have recently issued reports on PLNT. Macquarie reaffirmed a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research report on Thursday, September 5th. Raymond James raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th.

Planet Fitness Stock Down 1.5 %

Shares of NYSE:PLNT opened at $99.55 on Monday. The firm has a market cap of $8.42 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.36 and a beta of 1.49. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $102.81. The company’s 50-day moving average price is $86.45 and its two-hundred day moving average price is $78.41.

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

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in the stock. Quest Partners LLC boosted its stake in Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after purchasing an additional 5,298 shares during the period. Premier Fund Managers Ltd bought a new stake in shares of Planet Fitness in the third quarter valued at about $775,000. Qsemble Capital Management LP boosted its position in shares of Planet Fitness by 100.6% during the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after buying an additional 10,518 shares during the period. Banco Santander S.A. bought a new position in shares of Planet Fitness during the third quarter worth about $637,000. Finally, Fifth Third Bancorp raised its position in Planet Fitness by 60.2% in the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after buying an additional 72,131 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

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.