Planet Fitness (NYSE:PLNT) Given New $123.00 Price Target at Piper Sandler

Planet Fitness (NYSE:PLNT) had its price target hoisted by equities research analysts at Piper Sandler from $115.00 to $123.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 20.15% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada increased their price target on Planet Fitness from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. DA Davidson lifted their price objective on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Macquarie restated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Five research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.13.

Planet Fitness Trading Up 2.1 %

PLNT stock traded up $2.13 during trading on Monday, reaching $102.37. The stock had a trading volume of 391,169 shares, compared to its average volume of 699,584. The firm has a fifty day moving average price of $96.08 and a 200 day moving average price of $84.68. The company has a market capitalization of $8.66 billion, a P/E ratio of 55.04, a PEG ratio of 3.33 and a beta of 1.52. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $102.90.

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

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the 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 completion of the transaction, the insider now 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quarry LP boosted its stake in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Planet Fitness by 396.9% in the third 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. Point72 DIFC Ltd purchased a new position in shares of Planet Fitness during the second quarter valued at $200,000. Finally, Point72 Hong Kong Ltd acquired a new position in Planet Fitness during the third quarter valued at $200,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.