Planet Fitness (NYSE:PLNT) Price Target Raised to $90.00 at Stifel Nicolaus

Planet Fitness (NYSE:PLNT) had its price target upped by Stifel Nicolaus from $85.00 to $90.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price for the company. Raymond James lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. DA Davidson raised their price target on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.69.

Planet Fitness Stock Down 1.4 %

Shares of PLNT stock opened at $104.47 on Friday. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 56.17, a PEG ratio of 2.87 and a beta of 1.52. The business’s fifty day moving average is $100.01 and its 200 day moving average is $86.56. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68.

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 firm had revenue of $292.20 million for 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 business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. Equities research analysts expect that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Planet Fitness by 3.3% in the second quarter. Victory Capital Management Inc. now owns 18,202 shares of the company’s stock valued at $1,339,000 after acquiring an additional 584 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock worth $80,910,000 after purchasing an additional 173,536 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Planet Fitness by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock worth $498,000 after purchasing an additional 947 shares during the period. XTX Topco Ltd grew its holdings in Planet Fitness by 173.5% during the 2nd quarter. XTX Topco Ltd now owns 22,674 shares of the company’s stock valued at $1,669,000 after buying an additional 14,385 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Planet Fitness by 3.3% during the second quarter. Pacer Advisors Inc. now owns 13,146 shares of the company’s stock valued at $967,000 after buying an additional 423 shares during the last quarter. Institutional investors 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.