Planet Fitness, Inc. (PLNT) Given Buy Rating at Cowen and Company

Cowen and Company reaffirmed their buy rating on shares of Planet Fitness, Inc. (NYSE:PLNT) in a research note released on Friday morning. They currently have a $30.00 target price on the stock.

PLNT has been the topic of several other research reports. Zacks Investment Research raised Planet Fitness from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Wednesday, October 11th. BidaskClub raised Planet Fitness from a sell rating to a hold rating in a research report on Saturday, August 5th. Jefferies Group LLC reaffirmed a buy rating and issued a $29.00 target price on shares of Planet Fitness in a research report on Thursday, October 19th. Imperial Capital upped their target price on Planet Fitness from $25.00 to $28.00 and gave the company an outperform rating in a research report on Tuesday, August 15th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $31.00 target price (up previously from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $29.60.

Shares of Planet Fitness (PLNT) traded up $0.82 during midday trading on Friday, reaching $30.12. The company’s stock had a trading volume of 1,449,200 shares, compared to its average volume of 1,234,702. The firm has a market capitalization of $2,882.70, a P/E ratio of 36.64, a PEG ratio of 1.91 and a beta of 0.84. The company has a current ratio of 1.57, a quick ratio of 1.28 and a debt-to-equity ratio of -5.00. Planet Fitness has a 1 year low of $18.32 and a 1 year high of $30.22.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts forecast that Planet Fitness will post 0.82 EPS for the current fiscal year.

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In related news, CAO Richard L. Moore sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.02, for a total value of $248,584.00. Following the completion of the sale, the chief accounting officer now directly owns 9,200 shares in the company, valued at $248,584. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total value of $535,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,840 shares of company stock valued at $2,433,704. 19.87% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. BlackRock Inc. lifted its stake in Planet Fitness by 108.4% during the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in Planet Fitness during the second quarter worth $41,580,000. Junto Capital Management LP bought a new stake in Planet Fitness during the second quarter worth $37,227,000. DSAM Partners London Ltd bought a new stake in Planet Fitness during the second quarter worth $36,383,000. Finally, Vanguard Group Inc. lifted its stake in Planet Fitness by 30.2% during the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares during the last quarter.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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