Planet Fitness (NYSE:PLNT) Reaches New 12-Month High – Still a Buy?

Planet Fitness, Inc. (NYSE:PLNT) reached a new 52-week high on Wednesday . The stock traded as high as $98.82 and last traded at $97.55, with a volume of 53034 shares trading hands. The stock had previously closed at $97.87.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of analyst reports. Roth Mkm increased their price objective on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Macquarie reaffirmed a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Raymond James raised their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Finally, Bank of America increased their target price on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Trading Up 1.7 %

The company has a market cap of $8.45 billion, a price-to-earnings ratio of 53.71, a P/E/G ratio of 3.25 and a beta of 1.49. The stock has a 50 day moving average price of $84.61 and a two-hundred day moving average price of $77.08.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period last year, the company earned $0.59 earnings per share. Planet Fitness’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently made changes to their positions in PLNT. M&T Bank Corp boosted its position in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Planet Fitness by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after acquiring an additional 132 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after buying an additional 153 shares during the last quarter. Creative Planning raised its position in Planet Fitness by 2.1% during the third quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $1,825,000 after buying an additional 200 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

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.