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.
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.
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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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