Planet Fitness, Inc. (NYSE:PLNT) Receives $96.13 Consensus Target Price from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $97.69.

PLNT has been the subject of several research analyst reports. Robert W. Baird lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler lifted their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. Morgan Stanley lifted their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, DA Davidson lifted their price objective on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th.

Planet Fitness Stock Down 1.4 %

NYSE PLNT opened at $104.47 on Tuesday. The company has a fifty day moving average of $100.20 and a two-hundred day moving average of $86.96. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 56.17, a PEG 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 earnings results on Thursday, November 7th. The company reported $0.64 earnings per share 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 during the quarter, compared to the consensus estimate of $283.79 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Planet Fitness will post 2.5 EPS for the current year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently modified their holdings of the business. Cetera Trust Company N.A boosted its position in Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after buying an additional 135 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new stake in Planet Fitness in the fourth quarter valued at approximately $202,000. UMB Bank n.a. boosted its position in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in Planet Fitness in the fourth quarter valued at approximately $18,767,000. Finally, Arkadios Wealth Advisors boosted its position in Planet Fitness by 26.6% in the fourth quarter. Arkadios Wealth Advisors now owns 10,984 shares of the company’s stock valued at $1,086,000 after buying an additional 2,305 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.