Planet Fitness, Inc. (NYSE:PLNT) Receives $91.81 Consensus Price Target from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $91.81.

Several equities analysts recently commented on the company. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. 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. Stifel Nicolaus boosted their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Finally, Raymond James boosted their price objective 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.

Planet Fitness Price Performance

PLNT stock opened at $101.02 on Monday. The business’s 50-day moving average is $85.75 and its two-hundred day moving average is $78.09. The firm has a market capitalization of $8.55 billion, a P/E ratio of 54.10, a P/E/G ratio of 3.36 and a beta of 1.49. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $102.81.

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

Insider Activity at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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 transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.94% of the stock is currently owned by insiders.

Institutional Trading of Planet Fitness

Several hedge funds have recently made changes to their positions in PLNT. Quest Partners LLC raised its holdings in Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after purchasing an additional 5,298 shares in the last quarter. Premier Fund Managers Ltd purchased a new position in shares of Planet Fitness during the 3rd quarter worth approximately $775,000. Banco Santander S.A. acquired a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $637,000. Qsemble Capital Management LP boosted its stake 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 buying an additional 10,518 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Planet Fitness by 60.2% during the second quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after acquiring an additional 72,131 shares during the period. Institutional investors and hedge funds 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.