Planet Fitness Inc (PLNT) Receives Average Rating of “Buy” from Analysts

Planet Fitness Inc (NYSE:PLNT) has received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $32.86.

A number of brokerages recently weighed in on PLNT. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Imperial Capital upped their target price on shares of Planet Fitness from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. BidaskClub lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Jefferies Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Planet Fitness in a research note on Thursday, October 19th. Finally, DA Davidson began coverage on shares of Planet Fitness in a research note on Monday, November 20th. They issued a “buy” rating for the company.

Shares of Planet Fitness (PLNT) traded up $0.67 during midday trading on Friday, reaching $33.07. 1,047,699 shares of the company were exchanged, compared to its average volume of 971,788. The firm has a market cap of $3,186.96, a price-to-earnings ratio of 50.11, a PEG ratio of 1.91 and a beta of 1.00. 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 12-month low of $18.32 and a 12-month high of $35.03.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. analysts expect that Planet Fitness will post 0.82 earnings per share for the current fiscal year.

In other news, CFO Dorvin D. Lively sold 144,557 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $31.80, for a total transaction of $4,596,912.60. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares in the company, valued at approximately $1,229,833.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 60,000 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $32.54, for a total transaction of $1,952,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,114,427 shares of company stock valued at $34,424,022. Company insiders own 19.87% of the company’s stock.

Several institutional investors have recently bought and sold shares of PLNT. Bank of Montreal Can acquired a new position in shares of Planet Fitness during the 4th quarter worth about $104,000. Envestnet Asset Management Inc. raised its holdings in shares of Planet Fitness by 164.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after purchasing an additional 3,022 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $145,000. Ameritas Investment Partners Inc. raised its holdings in shares of Planet Fitness by 234.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after purchasing an additional 5,189 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Planet Fitness in the 3rd quarter valued at about $214,000.

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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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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