Planet Fitness, Inc. (NYSE:PLNT) Receives Consensus Rating of “Moderate Buy” from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $84.87.

Several equities analysts have recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and issued a $92.00 price objective on shares of Planet Fitness in a research report on Monday, August 26th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Bank of America upped 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. DA Davidson reissued a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Finally, Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $100.00 in a report on Monday, June 10th.

Planet Fitness Stock Up 0.1 %

PLNT stock opened at $80.97 on Wednesday. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 46.53, a P/E/G ratio of 2.73 and a beta of 1.49. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $83.36. The business has a 50 day moving average price of $77.37 and a two-hundred day moving average price of $68.88.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities research analysts anticipate that Planet Fitness will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction dated 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 directly owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently made changes to their positions in PLNT. International Assets Investment Management LLC boosted its stake in shares of Planet Fitness by 886.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,840 shares of the company’s stock valued at $426,000 after purchasing an additional 5,248 shares during the last quarter. Victory Capital Management Inc. boosted its position in Planet Fitness by 19.4% during the fourth quarter. Victory Capital Management Inc. now owns 17,882 shares of the company’s stock valued at $1,305,000 after acquiring an additional 2,905 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Planet Fitness during the 4th quarter worth about $788,000. M&T Bank Corp bought a new position in shares of Planet Fitness in the 4th quarter worth about $306,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Planet Fitness by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,028 shares of the company’s stock worth $64,899,000 after acquiring an additional 37,077 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

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.