Planet Fitness, Inc. (PLNT) Given Consensus Recommendation of “Buy” by Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $29.60.

A number of research analysts have recently commented on the company. Cowen restated an “outperform” rating and issued a $28.00 target price (up previously from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Roth Capital set a $23.00 target price on Planet Fitness and gave the company a “buy” rating in a research note on Thursday, August 10th. Jefferies Group reiterated a “buy” rating and set a $29.00 price objective (up previously from $26.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $31.00 price objective (up previously from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th.

In other news, CEO Christopher Rondeau sold 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $30.09, for a total value of $1,805,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Richard L. Moore sold 1,640 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total value of $44,280.00. Following the completion of the transaction, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at approximately $44,280. The disclosure for this sale can be found here. Insiders sold 645,753 shares of company stock valued at $18,854,271 in the last 90 days. Company insiders own 19.87% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP grew its holdings in shares of Planet Fitness by 11.7% in the third quarter. GSA Capital Partners LLP now owns 44,555 shares of the company’s stock worth $1,202,000 after acquiring an additional 4,655 shares during the period. Neuberger Berman Group LLC bought a new stake in shares of Planet Fitness in the third quarter worth $594,000. Argent Capital Management LLC bought a new stake in shares of Planet Fitness in the third quarter worth $1,105,000. California Public Employees Retirement System grew its holdings in shares of Planet Fitness by 10.5% in the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after acquiring an additional 2,200 shares during the period. Finally, Davidson Kempner Capital Management LP grew its holdings in shares of Planet Fitness by 22.5% in the third quarter. Davidson Kempner Capital Management LP now owns 857,585 shares of the company’s stock worth $23,138,000 after acquiring an additional 157,585 shares during the period.

Planet Fitness (NYSE:PLNT) traded down $0.09 on Friday, hitting $31.67. The stock had a trading volume of 453,262 shares, compared to its average volume of 1,211,685. The stock has a market cap of $3,087.61, a PE ratio of 39.24, a PEG ratio of 2.42 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $32.92.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $97.50 million during the quarter, compared to analysts’ expectations of $93.55 million. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. sell-side analysts predict that Planet Fitness will post 0.82 EPS for the current fiscal year.

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About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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