Planet Fitness, Inc. (NYSE:PLNT) has been given an average rating of “Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.00.

A number of equities analysts have recently weighed in on the company. BidaskClub raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research report on Thursday, September 14th. Finally, Roth Capital lifted their price objective on Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 21st.

Shares of Planet Fitness (PLNT) traded up 0.68% during mid-day trading on Thursday, reaching $26.83. The company’s stock had a trading volume of 790,331 shares. The firm has a market capitalization of $2.30 billion, a P/E ratio of 46.26 and a beta of 0.86. The company’s 50-day moving average is $26.37 and its 200 day moving average is $26.37. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $27.22.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The company had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts expect that Planet Fitness will post $0.47 earnings per share for the current year.

In other news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $26.75, for a total value of $535,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.87% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PLNT. Swiss National Bank grew its position in Planet Fitness by 32.9% during the first quarter. Swiss National Bank now owns 112,985 shares of the company’s stock valued at $2,177,000 after acquiring an additional 28,000 shares during the period. UBS Asset Management Americas Inc. grew its position in Planet Fitness by 49.6% during the first quarter. UBS Asset Management Americas Inc. now owns 17,502 shares of the company’s stock valued at $337,000 after acquiring an additional 5,800 shares during the period. Parametric Portfolio Associates LLC grew its position in Planet Fitness by 5.4% during the first quarter. Parametric Portfolio Associates LLC now owns 210,677 shares of the company’s stock valued at $4,060,000 after acquiring an additional 10,887 shares during the period. American International Group Inc. grew its position in Planet Fitness by 75.7% during the first quarter. American International Group Inc. now owns 15,869 shares of the company’s stock valued at $306,000 after acquiring an additional 6,835 shares during the period. Finally, Principal Financial Group Inc. grew its position in Planet Fitness by 4.9% during the first quarter. Principal Financial Group Inc. now owns 790,192 shares of the company’s stock valued at $15,227,000 after acquiring an additional 36,966 shares during the period.

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Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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