Brokerages Set Planet Fitness Inc (PLNT) Target Price at $32.86

Shares of Planet Fitness Inc (NYSE:PLNT) have been given an average recommendation of “Buy” by the twelve analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $32.86.

Several equities analysts recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $31.00 price objective (up from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Cowen increased their price objective on shares of Planet Fitness from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th. Imperial Capital increased their price objective on shares of Planet Fitness from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. BidaskClub lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, October 11th.

Planet Fitness (NYSE:PLNT) traded up $0.10 during mid-day trading on Friday, hitting $34.74. 578,848 shares of the company’s stock traded hands, compared to its average volume of 1,060,000. The stock has a market capitalization of $3,420.00 and a price-to-earnings ratio of 51.85. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $35.03. 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 (NYSE:PLNT) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. sell-side analysts expect that Planet Fitness will post 0.82 EPS for the current year.

In related news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $26.64, for a total value of $532,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Richard L. Moore sold 1,640 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the transaction, the chief accounting officer now owns 1,640 shares in the company, valued at approximately $44,280. The disclosure for this sale can be found here. Insiders sold a total of 1,234,427 shares of company stock valued at $38,560,422 over the last ninety days. 19.87% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of PLNT. Schwab Charles Investment Management Inc. grew its stake in shares of Planet Fitness by 42.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 343,217 shares of the company’s stock worth $8,011,000 after purchasing an additional 102,785 shares during the period. Legal & General Group Plc grew its stake in shares of Planet Fitness by 244.8% during the 2nd quarter. Legal & General Group Plc now owns 20,904 shares of the company’s stock worth $489,000 after purchasing an additional 14,842 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Planet Fitness by 412.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,093 shares of the company’s stock worth $236,000 after purchasing an additional 8,125 shares during the period. Swiss National Bank grew its stake in shares of Planet Fitness by 21.2% during the 2nd quarter. Swiss National Bank now owns 136,985 shares of the company’s stock worth $3,197,000 after purchasing an additional 24,000 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of Planet Fitness by 114.2% during the 2nd quarter. Teachers Advisors LLC now owns 701,750 shares of the company’s stock worth $16,379,000 after purchasing an additional 374,185 shares during the period.

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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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