Planet Fitness (NYSE:PLNT) Price Target Raised to $87.00 at DA Davidson

Planet Fitness (NYSE:PLNT) had its price target upped by research analysts at DA Davidson from $70.00 to $87.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential downside of 13.55% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Macquarie reaffirmed a “neutral” rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a research note on Thursday, September 5th. Finally, Bank of America increased their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Stock Down 0.4 %

PLNT traded down $0.38 on Friday, hitting $100.64. The company’s stock had a trading volume of 50,727 shares, compared to its average volume of 1,520,060. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $102.81. The firm has a market cap of $8.51 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49. The company’s 50 day simple moving average is $86.45 and its 200-day simple moving average is $78.41.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities analysts predict that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.94% of the stock is owned by corporate insiders.

Institutional Trading of Planet Fitness

Several institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new position in shares of Planet Fitness in the second quarter worth approximately $166,978,000. Anomaly Capital Management LP bought a new position in Planet Fitness in the 2nd quarter valued at approximately $106,795,000. Point72 Asset Management L.P. increased its holdings in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after purchasing an additional 829,509 shares in the last quarter. FMR LLC raised its stake in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP lifted its holdings in shares of Planet Fitness by 7.7% during the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after purchasing an additional 207,193 shares in the last quarter. 95.53% 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 brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.