Planet Fitness, Inc. (NYSE:PLNT) Receives $84.87 Consensus Target Price from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been given a consensus rating of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $84.87.

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Robert W. Baird reaffirmed an “outperform” rating and issued a $92.00 price target on shares of Planet Fitness in a report on Monday, August 26th. Piper Sandler lifted their price objective on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada upped their target price on Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Roth Mkm lifted their price target on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th.

Planet Fitness Trading Up 0.1 %

NYSE PLNT opened at $82.39 on Wednesday. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $83.98. The company has a fifty day simple moving average of $77.85 and a two-hundred day simple moving average of $69.28. The stock has a market cap of $7.27 billion, a P/E ratio of 47.35, a P/E/G ratio of 2.72 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The company had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. During the same quarter last year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Fitness will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Brian O’donnell sold 6,424 shares of the company’s 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 transaction, the chief accounting officer now owns 6,778 shares in the company, valued at approximately $524,549.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in Planet Fitness during the 1st quarter valued at about $27,000. GAMMA Investing LLC grew its position in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the last quarter. Quarry LP lifted its position in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new position in Planet Fitness during the second quarter worth approximately $82,000. 95.53% of the stock is 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.