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.
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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.
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