Planet Fitness, Inc. (NYSE:PLNT) has earned a consensus rating of “Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $29.60.

Several research analysts have weighed in on PLNT shares. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, October 11th. BidaskClub raised Planet Fitness from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Jefferies Group reissued a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research report on Thursday, September 14th. Roth Capital boosted their price objective on Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Finally, Bank of America boosted their price objective on Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th.

In other news, CAO Richard L. Moore sold 49,753 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $30.51, for a total transaction of $1,517,964.03. Following the transaction, the chief accounting officer now owns 49,753 shares of the company’s stock, valued at approximately $1,517,964.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Rondeau sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total value of $535,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 645,753 shares of company stock worth $18,854,271 in the last ninety days. Insiders own 19.87% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Planet Fitness by 1,196.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after purchasing an additional 224,311 shares during the period. Federated Investors Inc. PA raised its stake in shares of Planet Fitness by 26.8% during the 2nd quarter. Federated Investors Inc. PA now owns 270,000 shares of the company’s stock valued at $6,302,000 after purchasing an additional 57,000 shares during the period. BlackRock Inc. raised its stake in shares of Planet Fitness by 108.4% during the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after purchasing an additional 2,496,984 shares during the period. Principal Financial Group Inc. raised its stake in shares of Planet Fitness by 7.7% during the 2nd quarter. Principal Financial Group Inc. now owns 851,131 shares of the company’s stock valued at $19,866,000 after purchasing an additional 60,939 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Planet Fitness by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 327,736 shares of the company’s stock valued at $7,649,000 after purchasing an additional 46,554 shares during the period.

Planet Fitness (NYSE:PLNT) traded down $0.69 during mid-day trading on Friday, reaching $31.68. The company’s stock had a trading volume of 1,111,754 shares, compared to its average volume of 1,217,425. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57. Planet Fitness has a twelve month low of $18.32 and a twelve month high of $32.92. The stock has a market capitalization of $3,130.00 and a PE ratio of 39.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The business had revenue of $97.50 million for the quarter, compared to analysts’ expectations of $93.55 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. equities research analysts forecast that Planet Fitness will post 0.82 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Planet Fitness, Inc. (PLNT) Receives Consensus Rating of “Buy” from Brokerages” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/12/01/planet-fitness-inc-plnt-receives-consensus-rating-of-buy-from-brokerages.html.

About Planet Fitness

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)

Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with MarketBeat.com's FREE daily email newsletter.