Planet Fitness (NYSE:PLNT) Hits New 52-Week High – Should You Buy?

Planet Fitness, Inc. (NYSE:PLNT) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $110.00 and last traded at $109.57, with a volume of 293434 shares traded. The stock had previously closed at $107.51.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent analyst reports. DA Davidson reiterated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Piper Sandler raised their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Macquarie reiterated a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Robert W. Baird boosted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus increased their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness Stock Up 1.2 %

The company’s 50 day simple moving average is $101.52 and its 200-day simple moving average is $88.47. The firm has a market cap of $9.21 billion, a P/E ratio of 58.53, a P/E/G ratio of 2.63 and a beta of 1.52.

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

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently modified their holdings of the business. Values First Advisors Inc. acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $227,000. Legato Capital Management LLC increased its holdings in shares of Planet Fitness by 40.0% during the 4th quarter. Legato Capital Management LLC now owns 11,255 shares of the company’s stock valued at $1,113,000 after purchasing an additional 3,215 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Planet Fitness by 5.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,442 shares of the company’s stock valued at $439,000 after purchasing an additional 214 shares during the period. WCM Investment Management LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at $22,289,000. Finally, Ninety One SA PTY Ltd purchased a new stake in Planet Fitness during the fourth quarter worth $2,539,000. 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.