Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $97.69

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $97.69.

Several equities research analysts recently issued reports on PLNT shares. DA Davidson reissued a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Robert W. Baird upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Macquarie reissued a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th.

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.94% of the stock is currently owned by insiders.

Institutional Trading of Planet Fitness

Large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its holdings in shares of Planet Fitness by 34.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 26,764 shares of the company’s stock valued at $2,646,000 after purchasing an additional 6,894 shares during the last quarter. Twin Tree Management LP raised its holdings in Planet Fitness by 413.5% during the 4th quarter. Twin Tree Management LP now owns 43,264 shares of the company’s stock worth $4,278,000 after buying an additional 57,064 shares during the period. Corient Private Wealth LLC lifted its stake in Planet Fitness by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock valued at $457,000 after buying an additional 94 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Planet Fitness by 37.1% in the fourth quarter. Natixis Advisors LLC now owns 14,438 shares of the company’s stock worth $1,427,000 after buying an additional 3,909 shares during the period. Finally, Monimus Capital Management LP purchased a new position in shares of Planet Fitness in the fourth quarter worth approximately $6,698,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Trading Down 1.5 %

Planet Fitness stock opened at $106.34 on Friday. The stock has a 50-day moving average price of $102.65 and a 200 day moving average price of $90.32. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $110.00. The stock has a market cap of $9.00 billion, a PE ratio of 57.17, a P/E/G ratio of 2.68 and a beta of 1.53.

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.