Planet Fitness (NYSE:PLNT) Earns “Neutral” Rating from DA Davidson

DA Davidson reissued their neutral rating on shares of Planet Fitness (NYSE:PLNT) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $87.00 price objective on the stock.

PLNT has been the subject of a number of other research reports. Stifel Nicolaus boosted their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Piper Sandler raised their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price target for the company. Finally, Raymond James lifted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $108.06 on Tuesday. The business’s fifty day moving average price is $100.46 and its two-hundred day moving average price is $87.20. The stock has a market cap of $9.14 billion, a PE ratio of 58.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.52. Planet Fitness has a one year low of $54.35 and a one year high of $108.10.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating 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 business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the period. UMB Bank n.a. grew its position in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after buying an additional 1,516 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at $200,000. Institutional investors and hedge funds 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.