Planet Fitness (NYSE:PLNT) Given New $87.00 Price Target at DA Davidson

Planet Fitness (NYSE:PLNT) had its target price raised by DA Davidson from $70.00 to $87.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Raymond James increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their price objective 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. Finally, Morgan Stanley upped 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. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.38.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $99.55 on Friday. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $102.81. The firm has a 50-day moving average of $86.45 and a 200 day moving average of $78.41. The stock has a market cap of $8.42 billion, a P/E ratio of 53.52, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its quarterly 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLNT. Quest Partners LLC boosted its holdings in Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after buying an additional 5,298 shares during the period. Premier Fund Managers Ltd bought a new position in shares of Planet Fitness in the third quarter worth about $775,000. Qsemble Capital Management LP boosted its stake in shares of Planet Fitness by 100.6% in the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after acquiring an additional 10,518 shares during the period. Banco Santander S.A. purchased a new stake in shares of Planet Fitness during the third quarter worth about $637,000. Finally, Fifth Third Bancorp raised its stake in Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after purchasing an additional 72,131 shares during the period. 95.53% of the stock is owned by hedge funds and other 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.