Planet Fitness, Inc. (NYSE:PLNT)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group LLC in a report released on Thursday. They presently have a $29.00 price target on the stock. Jefferies Group LLC’s target price would suggest a potential upside of 9.31% from the stock’s previous close.

Several other research firms also recently weighed in on PLNT. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Roth Capital set a $23.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, August 10th. Imperial Capital upped their price target on shares of Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Cowen and Company restated an “outperform” rating and set a $28.00 price target (up previously from $23.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Finally, Robert W. Baird restated an “outperform” rating and set a $31.00 price target (up previously from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.00.

Shares of Planet Fitness (PLNT) traded up 1.92% on Thursday, hitting $26.53. The stock had a trading volume of 561,606 shares. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $27.22. The firm’s 50-day moving average price is $26.35 and its 200 day moving average price is $26.35. The firm has a market cap of $2.27 billion, a P/E ratio of 45.74 and a beta of 0.86.

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 consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts anticipate that Planet Fitness will post $0.47 EPS for the current fiscal year.

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In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total value of $535,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 60,000 shares of company stock valued at $1,581,000. 19.87% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. raised its holdings in Planet Fitness by 15.9% in the 2nd quarter. Alliancebernstein L.P. now owns 6,892,227 shares of the company’s stock valued at $160,865,000 after acquiring an additional 943,921 shares during the last quarter. Vanguard Group Inc. raised its holdings in Planet Fitness by 30.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock valued at $151,286,000 after acquiring an additional 1,504,593 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Planet Fitness by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,708,936 shares of the company’s stock valued at $133,246,000 after acquiring an additional 830,788 shares during the last quarter. BlackRock Inc. raised its holdings in Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after acquiring an additional 2,496,984 shares during the last quarter. Finally, Capital World Investors raised its holdings in Planet Fitness by 15.9% in the 2nd quarter. Capital World Investors now owns 4,123,511 shares of the company’s stock valued at $96,243,000 after acquiring an additional 565,225 shares during the last quarter. Institutional investors own 94.15% of the company’s stock.

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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