Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) PT at $91.81

Planet Fitness, Inc. (NYSE:PLNT) has received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Four equities 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. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $93.38.

Several equities research analysts recently commented on the company. Royal Bank of Canada raised their target price on Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 target price (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred 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 approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the period. LRI Investments LLC boosted its position in Planet Fitness by 61.2% during the 2nd 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. V Square Quantitative Management LLC boosted its position in Planet Fitness by 69.8% during the 3rd 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 during the period. Quarry LP boosted its position in 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 purchasing an additional 318 shares during the period. Finally, Dnca Finance acquired a new position in Planet Fitness during the 2nd quarter valued at approximately $82,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $99.55 on Monday. The stock’s 50-day moving average is $86.75 and its 200-day moving average is $78.73. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $102.81.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The business 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%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Research analysts anticipate that Planet Fitness will post 2.5 EPS for the current year.

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.