Planet Fitness (NYSE:PLNT) was upgraded by equities researchers at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.
Other analysts also recently issued reports about the company. Cowen restated an “average” rating and issued a $85.00 price objective (up from $65.00) on shares of Planet Fitness in a report on Monday, April 29th. Robert W. Baird lifted their price objective on Planet Fitness from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. Jefferies Financial Group lifted their price objective on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday. ValuEngine downgraded Planet Fitness from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Wedbush lifted their price objective on Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.43.
NYSE:PLNT opened at $73.11 on Tuesday. Planet Fitness has a twelve month low of $36.72 and a twelve month high of $77.34. The firm has a market cap of $6.76 billion, a PE ratio of 59.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.76.
In other Planet Fitness news, Director David P. Berg sold 6,291 shares of Planet Fitness stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.73, for a total value of $388,343.43. Following the transaction, the director now owns 6,615 shares in the company, valued at $408,343.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Rondeau sold 200,000 shares of Planet Fitness stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.86, for a total value of $13,172,000.00. The disclosure for this sale can be found here. Insiders sold 466,291 shares of company stock worth $29,813,238 in the last quarter. 14.52% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Granite Investment Partners LLC purchased a new position in Planet Fitness in the fourth quarter valued at about $947,000. Bank of America Corp DE grew its stake in shares of Planet Fitness by 0.3% during the fourth quarter. Bank of America Corp DE now owns 887,277 shares of the company’s stock worth $47,576,000 after acquiring an additional 3,040 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock worth $464,518,000 after acquiring an additional 280,726 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of 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 last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $2,910,000. Institutional investors own 96.02% of the company’s stock.
Planet Fitness Company Profile
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.
Featured Story: What is an overbought condition?
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.