Planet Fitness, Inc. (NYSE:PLNT) Receives $84.87 Consensus Price Target from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.87.

Several analysts have issued reports on the stock. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Robert W. Baird reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Planet Fitness in a research report on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th.

Insider Activity 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 transaction of $497,153.36. Following the completion of the sale, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Planet Fitness

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the last quarter. LRI Investments LLC lifted its holdings in shares of Planet Fitness by 61.2% during 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 last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 1st quarter worth $27,000. Quarry LP grew its stake in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness during the 2nd quarter valued at about $82,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

NYSE:PLNT opened at $82.39 on Wednesday. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 2.72 and a beta of 1.49. The business has a 50 day simple moving average of $77.85 and a 200-day simple moving average of $69.28. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $83.98.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Planet Fitness’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that Planet Fitness will post 2.44 earnings per share for the current fiscal year.

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.