Planet Fitness (NYSE:PLNT) Hits New 1-Year High at $81.99

Planet Fitness, Inc. (NYSE:PLNT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $81.99 and last traded at $81.99, with a volume of 3234 shares changing hands. The stock had previously closed at $81.07.

Analyst Upgrades and Downgrades

PLNT has been the subject of several research reports. Robert W. Baird reiterated an “outperform” rating and set a $92.00 price target on shares of Planet Fitness in a report on Monday. Raymond James lifted their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $100.00 in a report on Monday, June 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.87.

Planet Fitness Stock Up 1.3 %

The firm has a market capitalization of $7.24 billion, a P/E ratio of 46.59, a PEG ratio of 2.65 and a beta of 1.49. The business has a 50-day moving average price of $75.45 and a 200-day moving average price of $67.68.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the previous year, the business posted $0.65 earnings per share. Planet Fitness’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’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 sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.94% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in Planet Fitness in the first quarter worth $27,000. GAMMA Investing LLC boosted its stake in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the second 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. Quarry LP lifted its stake in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares during the period. Institutional investors and hedge funds 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.