Planet Fitness’ (PLNT) Neutral Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Planet Fitness (NYSE:PLNT) in a research report report published on Tuesday,Benzinga reports. They currently have a $87.00 price target on the stock.

Several other equities research analysts have also recently commented on PLNT. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective on the stock. Stifel Nicolaus raised their price target on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, January 17th. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness Trading Down 0.9 %

Shares of NYSE:PLNT opened at $105.53 on Tuesday. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $108.41. The stock’s 50-day moving average price is $100.84 and its 200-day moving average price is $87.46. The stock has a market capitalization of $8.93 billion, a P/E ratio of 56.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last announced its quarterly 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the business earned $0.59 EPS. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Planet Fitness will post 2.5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 5.94% of the stock is owned by insiders.

Institutional Trading of Planet Fitness

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Planet Fitness by 18.7% during the second 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 last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Planet Fitness by 16.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock worth $498,000 after buying an additional 947 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Planet Fitness by 3.3% during the 2nd quarter. Pacer Advisors Inc. now owns 13,146 shares of the company’s stock valued at $967,000 after buying an additional 423 shares during the period. Point72 DIFC Ltd acquired a new position in Planet Fitness in the second quarter valued at approximately $200,000. Finally, Point72 Asset Management L.P. grew its position in Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after acquiring an additional 829,509 shares during the period. 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.