Planet Fitness Inc (NYSE:PLNT) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $59.77.
PLNT has been the subject of several recent analyst reports. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Roth Capital raised their target price on Planet Fitness from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Bank of America reaffirmed a “buy” rating and set a $72.00 target price (up previously from $68.00) on shares of Planet Fitness in a research note on Thursday, February 28th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, January 1st. Finally, Robert W. Baird raised their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, April 2nd.
Shares of PLNT stock traded up $0.52 on Tuesday, hitting $73.41. The company had a trading volume of 846,048 shares, compared to its average volume of 1,295,832. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 60.17, a PEG ratio of 2.57 and a beta of 0.74. Planet Fitness has a twelve month low of $36.72 and a twelve month high of $74.60.
In other news, CFO Dorvin D. Lively sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $63.52, for a total value of $6,352,000.00. Following the transaction, the chief financial officer now owns 98,883 shares in the company, valued at $6,281,048.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. Insiders sold 466,291 shares of company stock valued at $29,813,238 in the last three months. Insiders own 14.52% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Ffcm LLC bought a new position in shares of Planet Fitness in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in Planet Fitness by 99.3% during the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after acquiring an additional 284 shares during the period. Bessemer Group Inc. lifted its holdings in Planet Fitness by 30.6% during the fourth quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock worth $60,000 after acquiring an additional 264 shares during the period. Ibex Investors LLC bought a new stake in Planet Fitness during the fourth quarter worth $225,000. Finally, Virtu Financial LLC bought a new stake in Planet Fitness during the fourth quarter worth $227,000. Institutional investors own 94.95% of the company’s stock.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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