Planet Fitness (NYSE:PLNT) Given New $100.00 Price Target at Bank of America

Planet Fitness (NYSE:PLNT - Free Report) had its price objective boosted by Bank of America from $95.00 to $100.00 in a research note released on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Morgan Stanley reissued an overweight rating and issued a $79.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Stifel Nicolaus cut shares of Planet Fitness from a buy rating to a hold rating and dropped their price objective for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Robert W. Baird reissued an outperform rating and issued a $92.00 price objective on shares of Planet Fitness in a research note on Monday, August 26th. Finally, Jefferies Financial Group raised shares of Planet Fitness from a hold rating to a buy rating and lifted their price objective for the stock from $62.00 to $100.00 in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $84.87.

Planet Fitness Stock Down 0.2 %

PLNT traded down $0.17 during trading on Friday, hitting $81.56. The company's stock had a trading volume of 1,151,256 shares, compared to its average volume of 1,646,952. Planet Fitness has a one year low of $44.13 and a one year high of $83.36. The firm has a market cap of $7.19 billion, a PE ratio of 46.84, a P/E/G ratio of 2.72 and a beta of 1.49. The business's 50 day simple moving average is $76.89 and its 200-day simple moving average is $68.48.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company's revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. Equities research analysts expect that Planet Fitness will post 2.44 EPS for the current fiscal year.

Insider Activity at Planet Fitness

In related news, CAO Brian O'donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The shares were 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 approximately $524,549.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PLNT. GAMMA Investing LLC grew its position in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC grew its position in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after purchasing an additional 153 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Planet Fitness during the 1st quarter worth approximately $27,000. Quarry LP grew its position 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 purchasing an additional 318 shares during the last quarter. Finally, Dnca Finance purchased a new stake in Planet Fitness during the 2nd quarter worth approximately $82,000. 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.