Planet Fitness, Inc. (PLNT) Receives Consensus Rating of “Buy” from Brokerages
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.
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.
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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.
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