Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of "Moderate Buy" from Analysts

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $97.69.

PLNT has been the subject of several recent research reports. Raymond James raised their target price 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. Robert W. Baird boosted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Stifel Nicolaus upped their target price on Planet Fitness from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, January 17th. Morgan Stanley lifted their price target on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Wednesday, January 15th.

Planet Fitness Stock Performance

NYSE PLNT traded down $2.70 during trading hours on Friday, reaching $103.69. The stock had a trading volume of 1,171,509 shares, compared to its average volume of 1,384,282. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $110.00. The stock has a fifty day moving average of $102.74 and a 200 day moving average of $90.52. The stock has a market cap of $8.77 billion, a P/E ratio of 55.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.53.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the 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 sale, the insider now owns 19,110 shares of the company's stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.94% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in Planet Fitness during the fourth quarter worth about $39,000. V Square Quantitative Management LLC raised its stake in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock valued at $40,000 after acquiring an additional 201 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.