Planet Fitness (NYSE:PLNT) Hits New 12-Month High at $83.60

Planet Fitness, Inc. (NYSE:PLNT) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $83.60 and last traded at $83.53, with a volume of 40654 shares changing hands. The stock had previously closed at $82.31.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a research note on Monday, August 26th. Piper Sandler upped their price objective on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Finally, Roth Mkm upped their price objective on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.87.

Planet Fitness Trading Up 0.1 %

The stock has a market capitalization of $7.27 billion, a PE ratio of 47.35, a P/E/G ratio of 2.72 and a beta of 1.49. The firm has a 50 day moving average of $77.85 and a two-hundred day moving average of $69.23.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same period last year, the business posted $0.65 EPS. Planet Fitness’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Planet Fitness, Inc. will post 2.44 EPS for the current year.

Insider Activity at Planet Fitness

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

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently bought and sold shares of PLNT. Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness during the fourth quarter worth $182,500,000. William Blair Investment Management LLC acquired a new stake in shares of Planet Fitness during the second quarter worth $166,978,000. Anomaly Capital Management LP acquired a new stake in shares of Planet Fitness during the second quarter worth $106,795,000. Greenvale Capital LLP boosted its holdings in shares of Planet Fitness by 291.3% during the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Planet Fitness during the fourth quarter worth $65,674,000. Institutional investors and hedge funds 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.