Planet Fitness, Inc. (NYSE:PLNT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $94.00.

Several research firms have commented on PLNT. Raymond James boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Bank of America upped their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Robert W. Baird raised their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $100.49 on Friday. The firm has a market capitalization of $8.50 billion, a P/E ratio of 54.03, a P/E/G ratio of 3.33 and a beta of 1.53. The stock has a 50 day moving average price of $93.74 and a 200-day moving average price of $83.36. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $102.90.

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 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 firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Planet Fitness will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction 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 transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Institutional investors have recently bought and sold shares of the stock. LRI Investments LLC raised its stake in shares of 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 buying an additional 153 shares during the period. V Square Quantitative Management LLC increased its holdings in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after acquiring an additional 201 shares in the last quarter. Quarry LP raised its stake in 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 period. GAMMA Investing LLC lifted its holdings in Planet Fitness by 396.9% during the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Planet Fitness in the third quarter worth approximately $200,000. 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.