Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Moderate Buy” by Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $94.00.

Several equities research analysts have recently weighed in on PLNT shares. Morgan Stanley increased their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a research report on Thursday, September 5th. Stifel Nicolaus boosted their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, Macquarie reiterated a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th.

Planet Fitness Trading Up 0.9 %

NYSE PLNT opened at $101.06 on Friday. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $102.90. The company has a fifty day simple moving average of $92.89 and a 200 day simple moving average of $83.11. The company has a market cap of $8.55 billion, a P/E ratio of 54.33, a P/E/G ratio of 3.33 and a beta of 1.53.

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

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction dated 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 directly owns 19,110 shares of the company’s stock, 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 SEC, which is available through the SEC website. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of PLNT. William Blair Investment Management LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $166,978,000. Anomaly Capital Management LP acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at $106,795,000. Point72 Asset Management L.P. raised its position in shares of Planet Fitness by 169.8% during the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after acquiring an additional 829,509 shares during the last quarter. FMR LLC lifted its stake in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares during the period. Finally, Dorsal Capital Management LP boosted its holdings in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after acquiring an additional 207,193 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

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.