Planet Fitness (NYSE:PLNT) had its price objective lifted by equities research analysts at Imperial Capital from $33.00 to $38.00 in a report issued on Friday. The firm presently has an “outperform” rating on the stock. Imperial Capital’s price target indicates a potential upside of 12.76% from the stock’s current price. Imperial Capital also issued estimates for Planet Fitness’ Q4 2018 earnings at $0.28 EPS.
Several other research firms have also weighed in on PLNT. Piper Jaffray Companies reiterated an “overweight” rating on shares of Planet Fitness in a research note on Monday, December 18th. Bank of America increased their price objective on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, October 26th. Jefferies Group lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird restated an “outperform” rating and issued a $31.00 price target (up previously from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Planet Fitness presently has a consensus rating of “Buy” and an average target price of $31.88.
Planet Fitness (NYSE PLNT) traded up $1.19 on Friday, reaching $33.70. 1,620,607 shares of the company traded hands, compared to its average volume of 912,380. The firm has a market capitalization of $3,197.78, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.00. Planet Fitness has a 52-week low of $18.32 and a 52-week high of $35.03. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00.
In other news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $25.87, for a total value of $517,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard L. Moore sold 1,640 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the transaction, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at $44,280. The disclosure for this sale can be found here. Insiders sold 1,074,427 shares of company stock worth $32,989,022 in the last 90 days. 19.87% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Planet Fitness by 1,196.3% in the second quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after acquiring an additional 224,311 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Planet Fitness by 108.4% in the second 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Planet Fitness by 7.7% in the second quarter. Principal Financial Group Inc. now owns 851,131 shares of the company’s stock valued at $19,866,000 after acquiring an additional 60,939 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Planet Fitness by 16.6% in the second quarter. American Century Companies Inc. now owns 327,736 shares of the company’s stock valued at $7,649,000 after acquiring an additional 46,554 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd bought a new position in shares of Planet Fitness in the third quarter valued at approximately $3,722,000.
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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.
