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

Planet Fitness, Inc. (NYSE:PLNT) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $97.69.

PLNT has been the subject of a number of research reports. Raymond James raised their price target 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. Macquarie restated a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday.

Planet Fitness Stock Down 1.4 %

Shares of NYSE PLNT opened at $104.47 on Tuesday. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68. The firm has a fifty day simple moving average of $100.01 and a 200 day simple moving average of $86.66. The company has a market capitalization of $8.84 billion, a PE ratio of 56.17, a P/E/G ratio of 2.87 and a beta of 1.52.

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

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp grew its stake in Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after acquiring an additional 124 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Planet Fitness by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after buying an additional 132 shares during the last quarter. Cetera Trust Company N.A increased its holdings in shares of Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after buying an additional 157 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.