Planet Fitness (NYSE:PLNT) Price Target Raised to $90.00

Planet Fitness (NYSE:PLNT) had its price objective upped by stock analysts at Stifel Nicolaus from $85.00 to $90.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential downside of 14.83% from the stock’s previous close.

Several other research firms have also weighed in on PLNT. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective on the stock. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Wednesday. Raymond James upped 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. Finally, DA Davidson boosted their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Trading Down 0.3 %

NYSE:PLNT traded down $0.30 on Friday, hitting $105.68. The company’s stock had a trading volume of 419,694 shares, compared to its average volume of 1,364,242. Planet Fitness has a one year low of $54.35 and a one year high of $107.68. The stock has a fifty day moving average of $99.83 and a two-hundred day moving average of $86.34. The firm has a market capitalization of $8.94 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52.

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

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’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 value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Planet Fitness by 3.3% during the 2nd quarter. Victory Capital Management Inc. now owns 18,202 shares of the company’s stock worth $1,339,000 after acquiring an additional 584 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Planet Fitness by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock valued at $80,910,000 after purchasing an additional 173,536 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Planet Fitness by 16.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock worth $498,000 after buying an additional 947 shares during the last quarter. XTX Topco Ltd lifted its holdings in Planet Fitness by 173.5% in the second quarter. XTX Topco Ltd now owns 22,674 shares of the company’s stock worth $1,669,000 after buying an additional 14,385 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Planet Fitness by 3.3% during the second quarter. Pacer Advisors Inc. now owns 13,146 shares of the company’s stock valued at $967,000 after purchasing an additional 423 shares in the last quarter. Institutional investors 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.