Planet Fitness (PLNT) Given a $36.00 Price Target at Roth Capital

Planet Fitness (NYSE:PLNT) received a $36.00 price target from Roth Capital in a report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price target points to a potential upside of 10.16% from the stock’s current price.

Other research analysts also recently issued reports about the company. Bank of America raised their price objective on Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, October 26th. DA Davidson assumed coverage on Planet Fitness in a report on Monday, November 20th. They issued a “buy” rating on the stock. Cowen reaffirmed a “buy” rating and issued a $30.00 target price on shares of Planet Fitness in a report on Friday, November 10th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $33.00 target price on shares of Planet Fitness in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.13.

Shares of Planet Fitness (PLNT) traded up $0.30 during mid-day trading on Tuesday, hitting $32.68. The company had a trading volume of 66,165 shares, compared to its average volume of 1,083,191. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $35.03. The company has a market cap of $3,184.99, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 1.72 and a beta of 0.79.

In other news, CEO Christopher Rondeau sold 40,000 shares of Planet Fitness stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $30.42, for a total transaction of $1,216,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dorvin D. Lively sold 105,443 shares of Planet Fitness stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $31.50, for a total value of $3,321,454.50. Following the sale, the chief financial officer now directly owns 67,273 shares in the company, valued at approximately $2,119,099.50. The disclosure for this sale can be found here. Insiders sold a total of 688,674 shares of company stock worth $22,503,951 in the last ninety days. Insiders own 19.87% of the company’s stock.

Several large investors have recently made changes to their positions in PLNT. Bank of Montreal Can acquired a new stake in shares of Planet Fitness during the 4th quarter worth approximately $104,000. SG Americas Securities LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth approximately $114,000. Envestnet Asset Management Inc. grew its holdings in shares of Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock worth $131,000 after purchasing an additional 3,022 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after purchasing an additional 5,189 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Planet Fitness by 81.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after purchasing an additional 2,244 shares in the last quarter.

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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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