Planet Fitness, Inc. (NYSE:PLNT) Receives $97.69 Average Target Price from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $97.69.

A number of equities research analysts have commented on the company. Raymond James raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley raised their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Macquarie reiterated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, DA Davidson restated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st.

Insider Activity

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently made changes to their positions in the business. Ninety One UK Ltd acquired a new stake in Planet Fitness in the 4th quarter worth $130,376,000. FMR LLC grew its position in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares in the last quarter. WCM Investment Management LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $22,289,000. Artemis Investment Management LLP bought a new position in Planet Fitness during the fourth quarter valued at about $18,767,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Planet Fitness in the 3rd quarter valued at approximately $13,592,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.5 %

Shares of Planet Fitness stock opened at $106.34 on Friday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The stock has a market cap of $9.00 billion, a PE ratio of 57.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.53. The business has a fifty day simple moving average of $102.65 and a 200-day simple moving average of $90.32.

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.