DA Davidson Boosts Planet Fitness (NYSE:PLNT) Price Target to $87.00

Planet Fitness (NYSE:PLNT - Free Report) had its price objective raised by DA Davidson from $70.00 to $87.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James boosted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Stifel Nicolaus boosted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Roth Mkm boosted their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Finally, BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 target price for the company in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.38.

Planet Fitness Price Performance

PLNT stock traded down $1.47 during midday trading on Friday, reaching $99.55. 404,195 shares of the company were exchanged, compared to its average volume of 1,521,743. The business has a 50-day moving average price of $86.75 and a two-hundred day moving average price of $78.64. Planet Fitness has a one year low of $54.35 and a one year high of $102.81. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 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 firm had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. During the same period in the previous year, the business posted $0.59 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 19,110 shares of the company's stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.94% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLNT. William Blair Investment Management LLC acquired a new position in shares of Planet Fitness in the second quarter valued at approximately $166,978,000. Anomaly Capital Management LP acquired a new position in shares of Planet Fitness in the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. increased its stake in shares of Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock valued at $96,985,000 after buying an additional 829,509 shares during the period. FMR LLC increased its stake in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after buying an additional 691,761 shares during the period. Finally, Dorsal Capital Management LP increased its position in Planet Fitness by 7.7% during the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock valued at $213,940,000 after purchasing an additional 207,193 shares during the period. Institutional investors and hedge funds 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.