Planet Fitness (NYSE:PLNT) PT Raised to $106.00

Planet Fitness (NYSE:PLNT) had its price target upped by Morgan Stanley from $101.00 to $106.00 in a research note published on Wednesday, The Fly reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently commented on the company. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $84.00 to $88.00 and gave the stock a neutral rating in a research report on Friday, December 17th. Cowen upgraded Planet Fitness from a market perform rating to an outperform rating and upped their price objective for the stock from $92.00 to $100.00 in a report on Tuesday, December 14th. Zacks Investment Research upgraded Planet Fitness from a hold rating to a strong-buy rating and set a $98.00 price objective for the company in a report on Tuesday, December 28th. BMO Capital Markets upped their price objective on Planet Fitness from $80.00 to $96.00 and gave the stock an outperform rating in a report on Monday, November 15th. Finally, Jefferies Financial Group upped their price objective on Planet Fitness from $100.00 to $115.00 and gave the stock a buy rating in a report on Friday, November 5th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $100.17.

NYSE:PLNT opened at $86.78 on Wednesday. Planet Fitness has a 52-week low of $67.89 and a 52-week high of $99.60. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 154.96, a PEG ratio of 2.64 and a beta of 1.21. The business’s fifty day moving average is $88.66 and its 200 day moving average is $81.32.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 4th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.08. Planet Fitness had a negative return on equity of 9.30% and a net margin of 8.51%. The business had revenue of $154.30 million during the quarter, compared to analysts’ expectations of $134.79 million. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue was up 46.4% on a year-over-year basis. On average, sell-side analysts predict that Planet Fitness will post 0.82 EPS for the current fiscal year.

In other Planet Fitness news, CEO Christopher Rondeau sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $96.07, for a total transaction of $14,410,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.41% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Planet Fitness by 0.8% in the 3rd quarter. Royal Bank of Canada now owns 17,076 shares of the company’s stock worth $1,342,000 after acquiring an additional 141 shares in the last quarter. Arizona State Retirement System raised its position in shares of Planet Fitness by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 22,669 shares of the company’s stock worth $1,781,000 after acquiring an additional 156 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Planet Fitness by 14.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,494 shares of the company’s stock worth $117,000 after acquiring an additional 183 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Planet Fitness by 7.7% in the 3rd quarter. CIBC Asset Management Inc now owns 3,414 shares of the company’s stock worth $268,000 after acquiring an additional 243 shares in the last quarter. Finally, Liberty Wealth Management LLC raised its position in shares of Planet Fitness by 388.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after acquiring an additional 272 shares in the last quarter. 96.38% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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