Planet Fitness (NYSE:PLNT) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Friday, Marketbeat reports. The brokerage issued a hold rating and a $71.00 price target on the stock.

Several other research firms have also recently issued reports on PLNT. Roth Mkm boosted their target price on Planet Fitness from $73.00 to $88.00 and gave the company a buy rating in a research note on Wednesday, August 7th. DA Davidson restated a neutral rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Robert W. Baird reaffirmed an outperform rating and set a $92.00 target price on shares of Planet Fitness in a research note on Monday, August 26th. Bank of America boosted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company a buy rating in a research report on Friday, September 6th. Finally, BMO Capital Markets restated an outperform rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $84.93.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $80.48 on Friday. Planet Fitness has a one year low of $45.94 and a one year high of $85.08. The business’s 50 day simple moving average is $79.38 and its two-hundred day simple moving average is $70.62. The stock has a market capitalization of $6.85 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.49.

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

Insider Transactions at Planet Fitness

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its position in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after acquiring an additional 153 shares during the period. Fidelis Capital Partners LLC bought a new position in Planet Fitness in the first quarter worth approximately $27,000. Quarry LP boosted its stake in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the last quarter. Finally, Dnca Finance bought a new stake in shares of Planet Fitness during the 2nd quarter valued at $82,000. 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.