Planet Fitness, Inc. (NYSE:PLNT) Receives $85.93 Average PT from Brokerages

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has received an average rating of "Moderate Buy" from the fifteen research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $85.93.

Several analysts have weighed in on the stock. Roth Mkm boosted their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a report on Tuesday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a "hold" rating and a $71.00 target price on the stock. Finally, Bank of America upped their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 6th.

Insider Transactions at Planet Fitness

In other news, CAO Brian O'donnell sold 6,424 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares in the company, valued at approximately $524,549.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.94% of the company's stock.

Institutional Trading of Planet Fitness

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in shares of Planet Fitness by 58.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,530 shares of the company's stock worth $185,000 after purchasing an additional 931 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Planet Fitness by 5.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 223,841 shares of the company's stock worth $14,019,000 after buying an additional 10,564 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Planet Fitness by 2.4% in the first quarter. State of Michigan Retirement System now owns 21,000 shares of the company's stock worth $1,315,000 after buying an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Planet Fitness by 26.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,582 shares of the company's stock valued at $851,000 after buying an additional 2,831 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Planet Fitness by 228.8% during the first quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company's stock valued at $1,445,000 after acquiring an additional 16,053 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Trading Up 0.0 %

Shares of Planet Fitness stock traded up $0.02 on Thursday, hitting $78.52. 728,208 shares of the company traded hands, compared to its average volume of 1,537,232. Planet Fitness has a 12-month low of $53.31 and a 12-month high of $85.08. The firm's 50-day simple moving average is $81.32 and its 200 day simple moving average is $73.69. The company has a market cap of $6.92 billion, a P/E ratio of 45.32, a P/E/G ratio of 2.74 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $300.94 million for the quarter, compared to analysts' expectations of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. Planet Fitness's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Analysts predict that Planet Fitness will post 2.43 earnings per share for the current year.

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.