Planet Fitness’ (PLNT) “Neutral” Rating Reiterated at DA Davidson

Planet Fitness (NYSE:PLNTGet Free Report)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $87.00 price objective on the stock. DA Davidson’s price target indicates a potential downside of 18.20% from the stock’s previous close.

PLNT has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Wednesday, January 15th. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Macquarie restated a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Finally, Raymond James upped their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.69.

View Our Latest Stock Report on Planet Fitness

Planet Fitness Stock Down 1.6 %

Planet Fitness stock opened at $106.35 on Tuesday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $108.41. The stock has a market cap of $9.00 billion, a P/E ratio of 57.18, a P/E/G ratio of 2.58 and a beta of 1.52. The company’s fifty day simple moving average is $100.66 and its 200-day simple moving average is $87.33.

Planet Fitness (NYSE:PLNTGet Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating 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 firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Planet Fitness

In other Planet Fitness 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 transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently made changes to their positions in the business. Quarry LP boosted its position in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Planet Fitness by 396.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Planet Fitness in the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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