Planet Fitness, Inc. (NYSE:PLNT) Receives $96.13 Consensus PT from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Moderate Buy” by the sixteen research firms that are covering the firm, MarketBeat.com reports. Four 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 company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $96.13.

A number of research analysts recently issued reports on PLNT shares. JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Raymond James upped 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 report on Friday, November 8th. Robert W. Baird raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. Finally, Morgan Stanley increased their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC lifted its position in Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after buying an additional 16,503 shares in the last quarter. State Street Corp increased its stake in shares of Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Planet Fitness during the 3rd quarter worth $604,000. Quest Partners LLC boosted its position in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after acquiring an additional 5,298 shares during the last quarter. Finally, Qsemble Capital Management LP grew its holdings in shares of Planet Fitness by 100.6% in the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after purchasing an additional 10,518 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Down 0.7 %

PLNT opened at $105.97 on Tuesday. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 2.87 and a beta of 1.52. The firm has a 50 day moving average price of $99.59 and a 200-day moving average price of $86.20. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, analysts expect that Planet Fitness will post 2.5 earnings per share for the current year.

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.