Planet Fitness (NYSE:PLNT) Price Target Raised to $90.00

Planet Fitness (NYSE:PLNT) had its target price upped by Stifel Nicolaus from $85.00 to $90.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently commented on PLNT. DA Davidson upped their target price on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Macquarie restated a “neutral” rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Raymond James lifted 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 note on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.69.

Planet Fitness Stock Down 1.4 %

NYSE:PLNT opened at $104.47 on Friday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 56.17, a P/E/G ratio of 2.87 and a beta of 1.52. The company has a fifty day moving average of $100.01 and a 200 day moving average of $86.74. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $107.68.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, analysts anticipate that Planet Fitness will post 2.5 EPS for the current year.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was 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 $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Planet Fitness

A number of institutional investors have recently made changes to their positions in PLNT. Anomaly Capital Management LP bought a new position in Planet Fitness during the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. raised its stake in Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after buying an additional 829,509 shares during the last quarter. FMR LLC lifted its holdings in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the period. Dorsal Capital Management LP boosted its stake in shares of Planet Fitness by 7.7% in the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after buying an additional 207,193 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Planet Fitness in the fourth quarter worth $18,767,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.