Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four 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 objective among analysts that have updated their coverage on the stock in the last year is $91.81.

Several research firms recently weighed in on PLNT. Bank of America boosted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Roth Mkm increased their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Raymond James lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price target 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.

Planet Fitness Stock Down 0.9 %

Shares of Planet Fitness stock traded down $0.91 on Monday, reaching $100.62. The company's stock had a trading volume of 657,524 shares, compared to its average volume of 1,530,070. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $102.20. The company has a market capitalization of $8.51 billion, a P/E ratio of 54.23, a PEG ratio of 3.37 and a beta of 1.49. The stock has a 50-day moving average price of $84.99 and a 200-day moving average price of $77.58.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. Sell-side analysts forecast that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company's stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp increased its stake in shares of Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company's stock worth $402,000 after purchasing an additional 124 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Planet Fitness during the 3rd quarter worth approximately $604,000. iSAM Funds UK Ltd purchased a new stake in Planet Fitness during the 3rd quarter worth approximately $312,000. State Street Corp boosted its holdings in shares of Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after buying an additional 37,236 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Planet Fitness by 149.2% during the 3rd quarter. Quantinno Capital Management LP now owns 27,971 shares of the company's stock worth $2,272,000 after purchasing an additional 16,748 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.