Planet Fitness (NYSE:PLNT) Hits New 12-Month High – What’s Next?

Planet Fitness, Inc. (NYSE:PLNT)’s share price reached a new 52-week high on Wednesday . The company traded as high as $102.81 and last traded at $101.48, with a volume of 27178 shares changing hands. The stock had previously closed at $101.57.

Analyst Ratings Changes

PLNT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. Robert W. Baird upped their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley increased their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a report on Thursday, September 5th. Finally, Roth Mkm upped their target price on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Price Performance

The firm has a market cap of $8.55 billion, a P/E ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49. The company’s 50 day moving average is $86.11 and its two-hundred day moving average is $78.25.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.94% of the company’s stock.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently modified their holdings of PLNT. GAMMA Investing LLC boosted its stake in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Quarry LP grew its holdings in shares of Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the last quarter. Finally, Dnca Finance acquired a new stake in shares of Planet Fitness during the 2nd quarter worth about $82,000. 95.53% of the stock is currently owned by institutional investors.

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.