Planet Fitness Inc (PLNT) Given Average Rating of “Buy” by Brokerages

Planet Fitness Inc (NYSE:PLNT) has been given a consensus rating of “Buy” by the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $50.25.

PLNT has been the topic of a number of recent analyst reports. Guggenheim boosted their target price on Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, September 24th. JPMorgan Chase & Co. lowered Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Monday, August 13th. DA Davidson set a $58.00 target price on Planet Fitness and gave the stock a “buy” rating in a report on Tuesday, October 16th. Cowen reissued a “buy” rating and set a $58.00 target price on shares of Planet Fitness in a report on Sunday, August 12th. Finally, Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a report on Sunday, July 15th.

Shares of PLNT stock traded up $0.19 during trading on Tuesday, reaching $46.73. 1,033,385 shares of the company’s stock were exchanged, compared to its average volume of 1,311,652. The firm has a market capitalization of $4.60 billion, a PE ratio of 55.63, a PEG ratio of 2.14 and a beta of 0.54. Planet Fitness has a twelve month low of $25.56 and a twelve month high of $55.35.



Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, August 9th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $140.55 million for the quarter, compared to analyst estimates of $130.99 million. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. As a group, research analysts predict that Planet Fitness will post 1.13 EPS for the current fiscal year.

In related news, CFO Dorvin D. Lively sold 105,127 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $51.23, for a total value of $5,385,656.21. Following the completion of the sale, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $49.19, for a total value of $983,800.00. The disclosure for this sale can be found here. Insiders sold a total of 520,226 shares of company stock valued at $26,271,812 over the last 90 days. 19.87% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sawtooth Solutions LLC bought a new stake in Planet Fitness in the 3rd quarter valued at $218,000. First Trust Advisors LP boosted its stake in Planet Fitness by 16.0% in the 3rd quarter. First Trust Advisors LP now owns 182,825 shares of the company’s stock valued at $9,878,000 after purchasing an additional 25,235 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Planet Fitness in the 3rd quarter valued at $41,917,000. Telemus Capital LLC bought a new stake in Planet Fitness in the 3rd quarter valued at $270,000. Finally, Strs Ohio boosted its stake in Planet Fitness by 11.6% in the 3rd quarter. Strs Ohio now owns 12,500 shares of the company’s stock valued at $675,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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