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

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, Marketbeat reports. Four 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 target price among analysts that have covered the stock in the last year is $91.81.

PLNT has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Raymond James increased their target price on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th.

Planet Fitness Stock Up 1.5 %

NYSE:PLNT opened at $101.53 on Monday. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $101.76. The stock’s fifty day moving average is $84.99 and its two-hundred day moving average is $77.58. The company has a market capitalization 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 data 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 firm 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 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale 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.

Institutional Trading of Planet Fitness

A number of institutional investors have recently bought and sold shares of PLNT. William Blair Investment Management LLC purchased a new position in shares of Planet Fitness in the 2nd quarter valued at $166,978,000. Anomaly Capital Management LP purchased a new position in shares of Planet Fitness during the second quarter worth about $106,795,000. Point72 Asset Management L.P. increased its position in shares of Planet Fitness by 169.8% during the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after purchasing an additional 829,509 shares in the last quarter. FMR LLC lifted its holdings in shares of Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Planet Fitness by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after purchasing an additional 483,586 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.