Planet Fitness (NYSE:PLNT) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness (NYSE:PLNT) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $71.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. BNP Paribas upgraded Planet Fitness from a neutral rating to an outperform rating and set a $97.00 price objective on the stock in a research report on Thursday, September 5th. Roth Mkm lifted their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Piper Sandler boosted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Bank of America upped their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a buy rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of Moderate Buy and a consensus price target of $84.93.

Planet Fitness Trading Up 0.9 %

NYSE:PLNT opened at $81.22 on Friday. The company has a market cap of $6.92 billion, a P/E ratio of 46.68, a P/E/G ratio of 2.79 and a beta of 1.49. Planet Fitness has a twelve month low of $46.50 and a twelve month high of $85.08. The company’s 50-day moving average price is $79.48 and its 200-day moving average price is $70.76.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Planet Fitness’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that Planet Fitness will post 2.44 earnings per share for the current year.

Insider Activity at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC increased its stake in Planet Fitness by 9.5% during the 4th quarter. Corient Private Wealth LLC now owns 11,671 shares of the company’s stock worth $852,000 after buying an additional 1,017 shares during the period. US Bancorp DE raised its stake in shares of Planet Fitness by 23.7% in the fourth quarter. US Bancorp DE now owns 11,882 shares of the company’s stock valued at $867,000 after acquiring an additional 2,273 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Planet Fitness by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 37,803 shares of the company’s stock valued at $2,760,000 after purchasing an additional 370 shares during the period. Martin Currie Ltd. acquired a new position in Planet Fitness during the 4th quarter worth $332,000. Finally, Armistice Capital LLC acquired a new position in Planet Fitness during the 4th quarter worth $2,443,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

About Planet Fitness

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