Planet Fitness (NYSE:PLNT) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness (NYSE:PLNT) in a research report released on Friday, Marketbeat.com reports. The firm issued a hold rating and a $71.00 price target on the stock.

A number of other equities analysts also recently weighed in on the company. Piper Sandler boosted their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Jefferies Financial Group upgraded Planet Fitness from a hold rating to a buy rating and increased their price target for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Robert W. Baird reaffirmed an outperform rating and set a $92.00 price target on shares of Planet Fitness in a report on Monday, August 26th. TD Cowen upgraded shares of Planet Fitness from a hold rating to a buy rating and upped their price objective for the company from $66.00 to $92.00 in a report on Monday, June 24th. Finally, Roth Mkm raised their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $84.93.

Planet Fitness Trading Down 2.7 %

Planet Fitness stock opened at $80.48 on Friday. The company has a market cap of $7.10 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 2.74 and a beta of 1.49. The company has a fifty day simple moving average of $79.38 and a 200 day simple moving average of $70.52. Planet Fitness has a 1-year low of $45.94 and a 1-year high of $85.08.

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

Insider Buying and Selling at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.94% of the company’s stock.

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently modified their holdings of the business. Heritage Oak Wealth Advisors LLC bought a new position in Planet Fitness in the 2nd quarter valued at approximately $2,013,000. Granite Bay Wealth Management LLC bought a new stake in Planet Fitness during the 2nd quarter worth $1,391,000. Point72 Asset Management L.P. increased its holdings in Planet Fitness by 169.8% in the 2nd 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. Quarry LP increased its holdings in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. Finally, Creative Planning raised its position in Planet Fitness by 16.6% in the second quarter. Creative Planning now owns 8,952 shares of the company’s stock valued at $659,000 after purchasing an additional 1,277 shares during the last quarter. 95.53% of the stock is currently owned by 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.