Analysts Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $84.87

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $84.87.

A number of research firms recently weighed in on PLNT. Bank of America lifted their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday, September 5th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Finally, DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Friday, June 14th.

Planet Fitness Price Performance

Shares of PLNT stock opened at $82.39 on Wednesday. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $83.98. The firm has a fifty day moving average price of $77.85 and a 200-day moving average price of $69.19. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 2.72 and a beta of 1.49.

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

Insider Activity

In other news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.94% of the company’s stock.

Institutional Trading of Planet Fitness

Hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness during the 1st quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in Planet Fitness by 478.8% during 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 grew its holdings in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the last quarter. Quarry LP grew its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. Finally, Dnca Finance bought a new position in Planet Fitness during the 2nd quarter valued at about $82,000. 95.53% of the stock is currently 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.