Planet Fitness (NYSE:PLNT) Sets New 12-Month High at $84.69

Planet Fitness, Inc. (NYSE:PLNT)’s stock price hit a new 52-week high on Thursday . The company traded as high as $84.69 and last traded at $84.69, with a volume of 977 shares traded. The stock had previously closed at $83.17.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Roth Mkm increased their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research note on Thursday, September 5th. Three research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Planet Fitness Price Performance

The firm has a fifty day simple moving average of $78.67 and a two-hundred day simple moving average of $69.76. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 48.47, a P/E/G ratio of 2.77 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping 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 business had revenue of $300.94 million for the quarter, compared to analyst estimates of $290.17 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at Planet Fitness

In other 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 completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness in the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its stake in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares in the last quarter. LRI Investments LLC grew its stake in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Quarry LP increased its holdings in Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new position in Planet Fitness in the 2nd quarter valued at approximately $82,000. 95.53% of the stock is owned by institutional investors and hedge funds.

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.