Planet Fitness Inc (PLNT) Given Consensus Rating of “Buy” by Analysts

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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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