Planet Fitness Inc (PLNT) Given Consensus Recommendation of “Buy” by Analysts

Shares of Planet Fitness Inc (NYSE:PLNT) have received a consensus rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $34.14.

Several brokerages have weighed in on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Imperial Capital lifted their price objective 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. Jefferies Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. 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. Finally, Cowen reiterated a “buy” rating and issued a $30.00 price objective on shares of Planet Fitness in a research note on Friday, November 10th.

Planet Fitness (NYSE PLNT) traded up $0.74 during midday trading on Wednesday, hitting $31.50. 381,506 shares of the stock were exchanged, compared to its average volume of 1,099,229. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. The firm has a market cap of $3,070.00 and a PE ratio of 46.72. Planet Fitness has a one year low of $18.32 and a one year high of $35.03.

In related news, CFO Dorvin D. Lively sold 38,674 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.29, for a total transaction of $1,248,783.46. Following the transaction, the chief financial officer now owns 38,674 shares in the company, valued at approximately $1,248,783.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Rondeau sold 40,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total transaction of $1,216,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 688,674 shares of company stock worth $22,503,951 over the last three months. Insiders own 19.87% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 224,311 shares during the period. BlackRock Inc. increased its stake in 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 in the last quarter. Dai Ichi Life Insurance Company Ltd bought a new stake in Planet Fitness during the 3rd quarter valued at $3,722,000. Brown Advisory Inc. bought a new stake in Planet Fitness during the 3rd quarter valued at $427,000. Finally, Sheets Smith Wealth Management bought a new stake in Planet Fitness during the 4th quarter valued at $364,000.

TRADEMARK VIOLATION NOTICE: “Planet Fitness Inc (PLNT) Given Consensus Recommendation of “Buy” by Analysts” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/14/planet-fitness-inc-plnt-given-consensus-recommendation-of-buy-by-analysts.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply