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

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $91.81.

A number of analysts have weighed in on PLNT shares. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Macquarie reiterated a “neutral” rating and issued a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Royal Bank of Canada upped their target price on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America raised their price target 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, 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 price target for the company.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLNT. GAMMA Investing LLC raised its stake in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC raised its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares during the last quarter. Quarry LP raised its position in shares of 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 during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares in the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness during the second quarter worth about $82,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Up 1.5 %

PLNT opened at $101.53 on Monday. The stock has a 50-day moving average of $84.99 and a 200 day moving average of $77.58. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $101.76. The firm has a market cap of $8.59 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.32 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its quarterly 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. 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 during the quarter, compared to the consensus estimate of $283.79 million. During the same period last year, the company earned $0.59 earnings per share. Planet Fitness’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast 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.