Planet Fitness (NYSE:PLNT) Earns Neutral Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $87.00 target price on the stock.

PLNT has been the subject of several other research reports. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Raymond James lifted their target price 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. Macquarie reaffirmed a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Piper Sandler lifted their target price 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.69.

Planet Fitness Stock Performance

Shares of PLNT opened at $105.53 on Tuesday. The stock has a 50-day simple moving average of $100.84 and a 200-day simple moving average of $87.46. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $108.41. The stock has a market capitalization of $8.93 billion, a PE ratio of 56.74, a PEG ratio of 2.67 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the previous year, the business earned $0.59 EPS. Planet Fitness’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Planet Fitness will post 2.5 EPS for the current year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Planet Fitness in the 4th quarter valued at approximately $39,000. Moody Aldrich Partners LLC acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $330,000. KBC Group NV raised its position in shares of Planet Fitness by 23.1% during the 4th quarter. KBC Group NV now owns 3,081 shares of the company’s stock valued at $305,000 after acquiring an additional 578 shares in the last quarter. Cetera Trust Company N.A raised its holdings in shares of 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 purchasing an additional 135 shares during the period. Finally, Beaumont Financial Advisors LLC bought a new stake in shares of Planet Fitness during the 4th quarter valued at about $202,000. 95.53% of the stock is owned by institutional investors and hedge funds.

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.