Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Buy” by the thirteen research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $98.33.

PLNT has been the subject of a number of analyst reports. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “strong-buy” rating and set a $98.00 price target for the company in a report on Tuesday, December 28th. BMO Capital Markets boosted their price objective on Planet Fitness from $80.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, November 15th. Jefferies Financial Group boosted their price objective on Planet Fitness from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, November 5th. Roth Capital boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 8th. Finally, TheStreet upgraded Planet Fitness from a “c” rating to a “b-” rating in a research report on Thursday, November 4th.

In other Planet Fitness news, CEO Christopher Rondeau sold 150,000 shares of the stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $96.07, for a total value of $14,410,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.41% of the stock is currently owned by corporate insiders.

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A number of large investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. acquired a new stake in Planet Fitness during the 3rd quarter worth approximately $26,000. Liberty Wealth Management LLC lifted its position in Planet Fitness by 388.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after acquiring an additional 272 shares during the period. Pinnacle Holdings LLC acquired a new stake in Planet Fitness during the 3rd quarter worth approximately $30,000. Manchester Capital Management LLC acquired a new stake in Planet Fitness during the 3rd quarter worth approximately $35,000. Finally, Penserra Capital Management LLC acquired a new stake in Planet Fitness during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 97.17% of the company’s stock.

Shares of Planet Fitness stock opened at $91.26 on Monday. The firm has a market cap of $7.90 billion, a P/E ratio of 162.96, a P/E/G ratio of 5.72 and a beta of 1.21. Planet Fitness has a 12 month low of $67.89 and a 12 month high of $99.60. The stock’s fifty day moving average price is $88.36 and its 200-day moving average price is $80.93.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Planet Fitness had a negative return on equity of 9.30% and a net margin of 8.51%. The company had revenue of $154.30 million for the quarter, compared to analyst estimates of $134.79 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. As a group, research analysts forecast that Planet Fitness will post 0.79 earnings per share for the current year.

Planet Fitness Company Profile

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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