Stifel Nicolaus Boosts Planet Fitness (NYSE:PLNT) Price Target to $90.00

Planet Fitness (NYSE:PLNT) had its target price hoisted by research analysts at Stifel Nicolaus from $85.00 to $90.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential downside of 14.83% from the company’s previous close.

Several other equities research analysts have also recently commented on PLNT. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Wednesday. Morgan Stanley boosted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Robert W. Baird boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Trading Down 0.3 %

PLNT traded down $0.30 on Friday, hitting $105.68. 419,694 shares of the company’s stock were exchanged, compared to its average volume of 1,364,242. The stock has a fifty day moving average of $99.83 and a two-hundred day moving average of $86.34. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68. The firm has a market cap of $8.94 billion, a PE ratio of 56.79, a P/E/G ratio of 2.87 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last issued 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 analyst estimates of $283.79 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts predict that Planet Fitness will post 2.5 EPS for the current year.

Insider Buying and Selling

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Dorsal Capital Management LP lifted its stake in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after buying an additional 207,193 shares during the period. State Street Corp grew its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after acquiring an additional 37,236 shares during the period. Anomaly Capital Management LP bought a new stake in shares of Planet Fitness in the second quarter worth about $106,795,000. Point72 Asset Management L.P. lifted its holdings in shares of Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after purchasing an additional 829,509 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Planet Fitness by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock valued at $80,910,000 after buying an additional 173,536 shares during the period. Institutional investors own 95.53% of the company’s stock.

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.