Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Price Target at $91.81

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $91.81.

Several research firms have commented on PLNT. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. Bank of America raised their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Roth Mkm upped their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th.

Planet Fitness Price Performance

Shares of PLNT opened at $101.02 on Monday. The company’s fifty day moving average price is $85.75 and its 200-day moving average price is $78.09. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $102.81. The firm has a market capitalization of $8.55 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49.

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

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’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 approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares during the last quarter. LRI Investments LLC lifted its stake in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. Quarry LP boosted its position in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance acquired a new stake in shares of Planet Fitness in the second quarter valued at $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.