Planet Fitness (NYSE:PLNT) Given Outperform Rating at Robert W. Baird

Robert W. Baird reissued their outperform rating on shares of Planet Fitness (NYSE:PLNT) in a research report report published on Monday, Benzinga reports. The firm currently has a $92.00 target price on the stock.

Several other equities analysts have also recently commented on PLNT. Jefferies Financial Group raised Planet Fitness from a hold rating to a buy rating and upped their price target for the company from $62.00 to $100.00 in a report on Monday, June 10th. Roth Mkm raised their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Raymond James increased their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a strong-buy rating in a research note on Friday, May 10th. Finally, Morgan Stanley reiterated an overweight rating and set a $79.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Four equities research 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’s stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of Moderate Buy and a consensus target price of $79.87.

Planet Fitness Stock Up 1.0 %

Shares of PLNT stock opened at $81.87 on Monday. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $82.82. The firm has a market cap of $7.22 billion, a PE ratio of 47.05, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49. The stock has a 50 day moving average of $75.65 and a 200-day moving average of $67.77.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the prior year, the company earned $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Planet Fitness will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.94% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC increased its stake in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 1st quarter valued at $27,000. Quarry LP raised 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 acquiring an additional 318 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.