Planet Fitness (NYSE:PLNT) Price Target Raised to $100.00

Planet Fitness (NYSE:PLNT) had its target price upped by stock analysts at JPMorgan Chase & Co. from $90.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 5.63% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley boosted their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. DA Davidson upped their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price target for the company. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.75.

Planet Fitness Stock Down 0.7 %

Shares of NYSE PLNT opened at $105.97 on Friday. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $107.68. The firm’s 50-day simple moving average is $99.83 and its 200 day simple moving average is $86.34. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 56.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last announced its 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. The company had revenue of $292.20 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share. On average, equities analysts expect that Planet Fitness will post 2.5 earnings per share for the current year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.94% of the stock is currently owned by insiders.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of PLNT. M&T Bank Corp increased its position in shares of Planet Fitness by 2.6% during the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Planet Fitness by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after acquiring an additional 132 shares in the last quarter. UMB Bank n.a. lifted its stake 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 during the last quarter. Creative Planning grew its position in shares of Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after acquiring an additional 192 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.