Planet Fitness (NYSE:PLNT) Given Neutral Rating at DA Davidson

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

PLNT has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. Stifel Nicolaus raised their target price on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler raised 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, Macquarie restated a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued 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 $97.69.

Planet Fitness Stock Up 1.8 %

NYSE:PLNT traded up $1.92 during trading hours on Tuesday, reaching $106.38. 109,104 shares of the company’s stock were exchanged, compared to its average volume of 1,353,101. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 2.58 and a beta of 1.52. The company has a 50-day moving average of $100.20 and a 200 day moving average of $86.96. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $107.68.

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

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Planet Fitness

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares in the last quarter. UMB Bank n.a. raised its holdings in 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 acquiring an additional 157 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares in the last quarter. GAMMA Investing LLC raised its holdings in Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after acquiring an additional 1,516 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Planet Fitness in the second quarter valued at $200,000. 95.53% of the stock is owned by institutional investors and hedge funds.

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.