Stifel Nicolaus Raises Planet Fitness (NYSE:PLNT) Price Target to $90.00

Planet Fitness (NYSE:PLNTGet Free Report) had its target price upped by research analysts at Stifel Nicolaus from $85.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 13.85% from the company’s previous close.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. DA Davidson raised their price target on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Robert W. Baird raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, Piper Sandler raised their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $97.69.

Check Out Our Latest Research Report on Planet Fitness

Planet Fitness Trading Down 1.4 %

Shares of NYSE PLNT opened at $104.47 on Friday. The stock has a fifty day simple moving average of $100.01 and a two-hundred day simple moving average of $86.66. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $107.68. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 56.17, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52.

Planet Fitness (NYSE:PLNTGet Free Report) last announced its quarterly earnings data 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business 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 company earned $0.59 earnings per share. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Planet Fitness will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Trust Company N.A lifted its stake in shares of Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after acquiring an additional 135 shares during the last quarter. Beaumont Financial Advisors LLC bought a new position in Planet Fitness during the 4th quarter valued at approximately $202,000. UMB Bank n.a. raised its position in Planet Fitness by 67.4% during 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 bought a new position in Planet Fitness during the 4th quarter valued at approximately $18,767,000. Finally, Arkadios Wealth Advisors raised its position in Planet Fitness by 26.6% during 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. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

(Get Free Report)

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.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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