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

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $94.00.

PLNT has been the topic of several analyst reports. Robert W. Baird increased their target price 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. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a report on Thursday, September 5th. Raymond James boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Royal Bank of Canada raised 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. Finally, Bank of America boosted their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th.

Planet Fitness Trading Up 0.9 %

NYSE PLNT opened at $101.06 on Friday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $102.90. The stock has a 50-day simple moving average of $92.89 and a 200 day simple moving average of $83.11. The company has a market capitalization of $8.55 billion, a PE ratio of 54.33, a P/E/G ratio of 3.33 and a beta of 1.53.

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

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Planet Fitness during the second quarter worth $166,978,000. Anomaly Capital Management LP acquired a new position in shares of Planet Fitness during the 2nd quarter worth about $106,795,000. Point72 Asset Management L.P. raised its holdings in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after purchasing an additional 829,509 shares during the period. FMR LLC lifted its stake in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP grew its holdings in Planet Fitness by 7.7% during the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after purchasing an additional 207,193 shares during the period. 95.53% of the stock is owned by 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.