Planet Fitness (NYSE:PLNT) Price Target Raised to $100.00

Planet Fitness (NYSE:PLNT) had its target price increased by JPMorgan Chase & Co. from $90.00 to $100.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus lifted their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted 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. Morgan Stanley raised their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $104.47 on Friday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $107.68. The stock has a market capitalization of $8.84 billion, a P/E ratio of 56.17, a PEG ratio of 2.87 and a beta of 1.52. The business has a 50 day simple moving average of $100.01 and a two-hundred day simple moving average of $86.74.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts anticipate 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 dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at $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. 0.83% of the stock is owned by company insiders.

Institutional Trading of Planet Fitness

Institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its stake in shares of Planet Fitness by 2.6% during the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after acquiring an additional 124 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after purchasing an additional 132 shares in the last quarter. Cetera Trust Company N.A grew its position in shares of 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 purchasing an additional 135 shares during the last quarter. UMB Bank n.a. grew its holdings in Planet Fitness by 67.4% during the 4th 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. Finally, Creative Planning increased its position in Planet Fitness by 2.1% during the third quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after buying an additional 192 shares in 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.