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

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the sixteen analysts that are covering the stock, 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 1-year target price among brokers that have issued a report on the stock in the last year is $96.13.

A number of research firms have recently issued reports on PLNT. Robert W. Baird upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of Planet Fitness from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Raymond James upped their price target 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. Morgan Stanley raised their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Finally, DA Davidson lifted their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th.

Insider Transactions at Planet Fitness

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP lifted its stake in shares of Planet Fitness by 7.7% in 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 last quarter. State Street Corp increased its position in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Anomaly Capital Management LP bought a new position in Planet Fitness during the second quarter valued at $106,795,000. Point72 Asset Management L.P. grew its holdings in Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock valued at $96,985,000 after purchasing an additional 829,509 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company's stock worth $80,910,000 after purchasing an additional 173,536 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 3.0 %

Shares of NYSE PLNT traded up $3.03 during midday trading on Tuesday, hitting $104.58. The company's stock had a trading volume of 1,880,179 shares, compared to its average volume of 1,386,929. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 56.23, a P/E/G ratio of 3.33 and a beta of 1.52. The stock has a fifty day moving average price of $98.65 and a 200 day moving average price of $85.84. Planet Fitness has a one year low of $54.35 and a one year high of $105.77.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results 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 negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same period last year, the company earned $0.59 earnings per share. The business's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Planet Fitness will post 2.5 earnings per share for the current fiscal 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.