Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) PT at $94.00

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $94.00.

Several research firms have recently weighed in on PLNT. Stifel Nicolaus increased their price objective on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a report on Thursday, September 5th. Robert W. Baird increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

Planet Fitness Trading Up 0.1 %

NYSE:PLNT opened at $99.26 on Friday. The firm has a market capitalization of $8.40 billion, a PE ratio of 53.37, a PEG ratio of 3.33 and a beta of 1.53. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $102.90. The firm’s fifty day simple moving average is $92.17 and its 200 day simple moving average is $82.52.

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

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. Assenagon Asset Management S.A. acquired a new stake in shares of Planet Fitness during the second quarter worth $1,118,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $266,000. Louisiana State Employees Retirement System raised its position in shares of Planet Fitness by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after acquiring an additional 200 shares during the period. Retirement Systems of Alabama raised its position in shares of Planet Fitness by 0.7% in the 2nd quarter. Retirement Systems of Alabama now owns 108,032 shares of the company’s stock valued at $7,950,000 after acquiring an additional 743 shares during the period. Finally, LRI Investments LLC grew its holdings in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

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.