Shares of Planet Fitness Inc (NYSE:PLNT) have been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $34.14.
A number of research analysts have commented on the stock. DA Davidson assumed coverage on shares of Planet Fitness in a research report on Monday, November 20th. They set a “buy” rating on the stock. Piper Jaffray Companies reiterated an “overweight” rating on shares of Planet Fitness in a research report on Monday, December 18th. Jefferies Group reiterated a “buy” rating and set a $33.00 price target on shares of Planet Fitness in a research report on Friday, November 10th. Bank of America increased their price target on shares of Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Cowen raised their target price on shares of Planet Fitness from $30.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th.
Shares of Planet Fitness (NYSE PLNT) traded down $0.05 during midday trading on Wednesday, reaching $32.38. 712,000 shares of the company’s stock were exchanged, compared to its average volume of 1,115,733. Planet Fitness has a twelve month low of $18.32 and a twelve month high of $35.03. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. The company has a market capitalization of $3,190.00 and a PE ratio of 48.33.
In related news, CEO Christopher Rondeau sold 40,000 shares of Planet Fitness stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total value of $1,216,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dorvin D. Lively sold 38,674 shares of Planet Fitness stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.29, for a total transaction of $1,248,783.46. Following the completion of the sale, the chief financial officer now owns 38,674 shares in the company, valued at approximately $1,248,783.46. The disclosure for this sale can be found here. Insiders sold 688,674 shares of company stock worth $22,503,951 in the last 90 days. Company insiders own 19.87% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in Planet Fitness by 1,196.3% in the second quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after acquiring an additional 224,311 shares in the last quarter. BlackRock Inc. boosted its holdings in Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after acquiring an additional 2,496,984 shares in the last quarter. Dai Ichi Life Insurance Company Ltd bought a new stake in Planet Fitness in the third quarter valued at $3,722,000. Sheets Smith Wealth Management bought a new stake in Planet Fitness in the fourth quarter valued at $364,000. Finally, Brown Advisory Inc. bought a new stake in Planet Fitness in the third quarter valued at $427,000.
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About Planet Fitness
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.
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