Planet Fitness (NYSE:PLNT) Price Target Raised to $100.00 at JPMorgan Chase & Co.

Planet Fitness (NYSE:PLNT) had its target price lifted by JPMorgan Chase & Co. from $90.00 to $100.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

PLNT has been the subject of a number of other research reports. Robert W. Baird increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective for the company. Stifel Nicolaus boosted their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley boosted their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Stock Down 1.4 %

Planet Fitness stock opened at $104.47 on Friday. The firm has a market cap of $8.84 billion, a P/E ratio of 56.17, a P/E/G ratio of 2.87 and a beta of 1.52. The business has a fifty day moving average of $100.01 and a two-hundred day moving average of $86.56. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Equities analysts expect that Planet Fitness will post 2.5 earnings per share for the current year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.83% of the company’s stock.

Institutional Trading of Planet Fitness

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Quarry LP lifted its stake in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 318 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in Planet Fitness during the 4th quarter worth approximately $202,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.