Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Rating of “Moderate Buy” by Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $84.93.

Several research firms have issued reports on PLNT. Roth Mkm lifted their target price on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 target price on the stock. Bank of America lifted their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the stock from $66.00 to $92.00 in a report on Monday, June 24th.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Planet Fitness

Several large investors have recently modified their holdings of PLNT. Broad Bay Capital Management LP lifted its stake in Planet Fitness by 15.4% during the 4th quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock worth $89,279,000 after acquiring an additional 163,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Planet Fitness by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after acquiring an additional 97,823 shares in the last quarter. Bessemer Group Inc. lifted its stake in Planet Fitness by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after acquiring an additional 45,623 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Planet Fitness during the 1st quarter worth about $1,786,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Planet Fitness by 5.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 223,841 shares of the company’s stock worth $14,019,000 after purchasing an additional 10,564 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $83.37 on Friday. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 2.69 and a beta of 1.49. The firm’s 50-day moving average is $80.05 and its 200 day moving average is $71.24. Planet Fitness has a 1 year low of $46.65 and a 1 year high of $85.08.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. On average, equities analysts expect that Planet Fitness will post 2.44 EPS 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.