Planet Fitness’ (PLNT) “Neutral” Rating Reiterated at DA Davidson

Planet Fitness (NYSE:PLNT)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They presently have a $87.00 price objective on the stock. DA Davidson’s target price would indicate a potential downside of 18.22% from the company’s current price.

Several other research analysts also recently commented on PLNT. Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Piper Sandler increased their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Robert W. Baird increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Macquarie reissued a “neutral” rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Trading Up 1.8 %

PLNT stock traded up $1.92 during midday trading on Tuesday, hitting $106.38. The company’s stock had a trading volume of 109,104 shares, compared to its average volume of 1,353,101. The company has a market cap of $9.00 billion, a PE ratio of 57.20, a P/E/G ratio of 2.58 and a beta of 1.52. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $107.68. The firm’s 50-day moving average is $100.20 and its 200-day moving average is $86.96.

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

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.83% of the stock is currently owned by insiders.

Institutional Trading of Planet Fitness

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Trust Company N.A boosted its position in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after acquiring an additional 135 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in Planet Fitness during the fourth quarter worth about $202,000. UMB Bank n.a. boosted its holdings in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Planet Fitness in the 4th quarter valued at about $18,767,000. Finally, Arkadios Wealth Advisors boosted its holdings in Planet Fitness by 26.6% in the 4th quarter. Arkadios Wealth Advisors now owns 10,984 shares of the company’s stock valued at $1,086,000 after purchasing an additional 2,305 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.