Analysts Set Planet Fitness, Inc. (NYSE:PLNT) PT at $84.93

Planet Fitness, Inc. (NYSE:PLNT) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $84.93.

A number of equities analysts have recently commented on PLNT shares. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $92.00 in a report on Monday, June 24th. Piper Sandler raised their price target on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 target price for the company.

Planet Fitness Stock Performance

Planet Fitness stock opened at $80.91 on Friday. Planet Fitness has a fifty-two week low of $50.08 and a fifty-two week high of $85.08. The stock has a market cap of $6.89 billion, a P/E ratio of 44.46, a PEG ratio of 2.69 and a beta of 1.49. The firm’s fifty day moving average price is $80.79 and its 200-day moving average price is $72.11.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Planet Fitness will post 2.44 earnings per share for the current year.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $524,549.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new position in Planet Fitness in the first quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the period. Quarry LP boosted its position 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 purchasing an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new stake in Planet Fitness in the second quarter worth $82,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.