Planet Fitness (NYSE:PLNT – Get Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a research report issued on Wednesday, Benzinga reports. They presently have a $87.00 price objective on the stock, up from their prior price objective of $80.00. BMO Capital Markets’ price target would indicate a potential upside of 11.21% from the stock’s current price.
PLNT has been the subject of a number of other reports. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $100.00 in a research report on Monday, June 10th. Raymond James raised their target price on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. Robert W. Baird increased their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. DA Davidson restated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research report on Friday, June 14th. Finally, TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Four investment 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 stock. According to data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $79.87.
Get Our Latest Stock Analysis on Planet Fitness
Planet Fitness Stock Up 3.3 %
Shares of NYSE:PLNT opened at $78.23 on Wednesday. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 2.44 and a beta of 1.49. The business’s 50 day moving average is $72.91 and its 200 day moving average is $66.96. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $79.10.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Planet Fitness will post 2.43 earnings per share for the current year.
Insiders Place Their Bets
In related news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.94% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Allworth Financial LP lifted its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Planet Fitness during the first quarter valued at approximately $27,000. GAMMA Investing LLC lifted its holdings in shares of Planet Fitness by 478.8% during the second 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 last quarter. LRI Investments LLC boosted its position in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
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.
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