Planet Fitness Inc (PLNT) Receives $34.14 Average PT from Brokerages

Planet Fitness Inc (NYSE:PLNT) has earned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.14.

Several equities analysts have recently issued reports on PLNT shares. Cowen reaffirmed a “buy” rating and issued a $30.00 price target on shares of Planet Fitness in a research report on Friday, November 10th. Imperial Capital lifted their price target on Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Bank of America lifted their price target on Planet Fitness from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Jefferies Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of Planet Fitness in a research report on Friday, November 10th. Finally, DA Davidson started coverage on Planet Fitness in a research report on Monday, November 20th. They issued a “buy” rating for the company.

In related news, CEO Christopher Rondeau sold 40,000 shares of Planet Fitness stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $30.42, for a total value of $1,216,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dorvin D. Lively sold 144,557 shares of Planet Fitness stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.80, for a total value of $4,596,912.60. Following the completion of the sale, the chief financial officer now owns 38,674 shares of the company’s stock, valued at $1,229,833.20. The disclosure for this sale can be found here. Insiders sold a total of 688,674 shares of company stock valued at $22,503,951 over the last quarter. 19.87% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. Investec Asset Management LTD bought a new stake in Planet Fitness in the 3rd quarter worth about $115,312,000. BlackRock Inc. increased its holdings in Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after buying an additional 2,496,984 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in Planet Fitness in the 4th quarter worth about $81,176,000. Vanguard Group Inc. increased its holdings in Planet Fitness by 30.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after buying an additional 1,504,593 shares in the last quarter. Finally, State Street Corp increased its holdings in Planet Fitness by 197.3% in the 2nd quarter. State Street Corp now owns 1,458,141 shares of the company’s stock worth $34,032,000 after buying an additional 967,664 shares in the last quarter.

Shares of Planet Fitness (NYSE:PLNT) traded down $0.05 during trading on Wednesday, reaching $32.38. The company’s stock had a trading volume of 712,000 shares, compared to its average volume of 1,115,733. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. The stock has a market capitalization of $3,190.00 and a price-to-earnings ratio of 48.33. Planet Fitness has a fifty-two week low of $18.32 and a fifty-two week high of $35.03.

TRADEMARK VIOLATION NOTICE: “Planet Fitness Inc (PLNT) Receives $34.14 Average PT from Brokerages” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://ledgergazette.com/2018/02/19/planet-fitness-inc-plnt-receives-34-14-average-pt-from-brokerages.html.

Planet Fitness Company Profile

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)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply