Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $94.00.

A number of brokerages recently commented on PLNT. Robert W. Baird boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Raymond James increased 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 report on Friday, November 8th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a research note on Thursday, September 5th. Finally, Macquarie restated a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC lifted its position in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP lifted its position in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. V Square Quantitative Management LLC raised its position in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the period. GAMMA Investing LLC lifted its position in Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Planet Fitness during the 2nd quarter valued at about $200,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 1.8 %

NYSE PLNT opened at $99.18 on Friday. The business’s fifty day moving average is $91.80 and its 200 day moving average is $82.14. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 53.32, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $102.90.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

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.