Analysts Set Planet Fitness Inc (PLNT) PT at $59.77

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Shares of Planet Fitness Inc (NYSE:PLNT) have been given a consensus rating of “Buy” by the sixteen analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $59.77.

A number of research firms 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 Friday, February 15th. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Wedbush upped their price objective on shares of Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 27th. DA Davidson upped their price objective on shares of Planet Fitness to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Finally, Robert W. Baird upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, April 2nd.

Shares of NYSE PLNT traded down $0.64 during mid-day trading on Tuesday, reaching $73.11. The company had a trading volume of 1,081,601 shares, compared to its average volume of 1,364,625. The stock has a market cap of $6.83 billion, a PE ratio of 59.93, a PEG ratio of 2.57 and a beta of 0.74. Planet Fitness has a 52 week low of $36.72 and a 52 week high of $74.60.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $174.40 million for the quarter, compared to analysts’ expectations of $173.76 million. Planet Fitness had a net margin of 15.36% and a negative return on equity of 67.65%. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Research analysts forecast that Planet Fitness will post 1.54 earnings per share for the current year.

In other Planet Fitness news, CFO Dorvin D. Lively sold 100,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $63.52, for a total transaction of $6,352,000.00. Following the completion of the sale, the chief financial officer now directly owns 98,883 shares of the company’s stock, valued at $6,281,048.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Rondeau sold 6,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $60.53, for a total transaction of $363,180.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 466,291 shares of company stock valued at $29,813,238. Insiders own 14.52% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Planet Fitness by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock valued at $464,518,000 after purchasing an additional 280,726 shares during the last quarter. Vanguard Group Inc raised its position in shares of Planet Fitness by 3.4% in the 3rd quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock valued at $464,518,000 after purchasing an additional 280,726 shares during the last quarter. FMR LLC raised its position in shares of Planet Fitness by 57.7% in the 4th quarter. FMR LLC now owns 7,135,122 shares of the company’s stock valued at $382,585,000 after purchasing an additional 2,610,693 shares during the last quarter. BlackRock Inc. raised its position in shares of Planet Fitness by 4.3% in the 4th quarter. BlackRock Inc. now owns 6,386,708 shares of the company’s stock valued at $342,456,000 after purchasing an additional 265,922 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Planet Fitness by 10.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,283,796 shares of the company’s stock valued at $122,457,000 after purchasing an additional 210,503 shares during the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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