Todays Report: The Planet Fitness Inc. (PLNT) PT Set at $23.00 by Roth Capital

The Planet Fitness Inc. (PLNT) PT Set at $23.00 by Roth Capital

Planet Fitness Inc. (NYSE:PLNT) has been assigned a $23.00 price objective by research analysts at Roth Capital in a research note issued on Thursday. The firm presently has a a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 8.70% from the stock’s current price.

PLNT has been the subject of a number of other research reports. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, June 29th. Piper Jaffray Cos. raised their price target on shares of Planet Fitness from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. Guggenheim reaffirmed a “buy” rating and issued a $24.00 price target (up previously from $23.00) on shares of Planet Fitness in a report on Thursday. Jefferies Group reaffirmed a “buy” rating and issued a $26.00 price target (up previously from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Finally, Imperial Capital raised their price target on shares of Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.63.

Shares of Planet Fitness (NYSE:PLNT) opened at 21.16 on Thursday. Planet Fitness has a 52-week low of $13.23 and a 52-week high of $23.41. The company’s market cap is $1.06 billion. The firm has a 50-day moving average of $19.94 and a 200-day moving average of $19.05.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Wednesday, October 26th. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Planet Fitness had a net margin of 3.65% and a return on equity of 785.79%. The company earned $87 million during the quarter, compared to analysts’ expectations of $79.32 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. Planet Fitness’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness will post $0.47 earnings per share for the current year.

In related news, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $19.42, for a total transaction of $388,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard L. Moore sold 8,200 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $21.00, for a total transaction of $172,200.00. Following the sale, the insider now owns 8,200 shares in the company, valued at approximately $172,200. The disclosure for this sale can be found here. Corporate insiders own 32.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in Planet Fitness by 43.2% in the second quarter. Swiss National Bank now owns 43,085 shares of the company’s stock valued at $813,000 after buying an additional 13,000 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Planet Fitness by 1.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 550,648 shares of the company’s stock valued at $10,396,000 after buying an additional 7,610 shares in the last quarter. Oxford Asset Management purchased a new stake in Planet Fitness during the second quarter valued at approximately $1,861,000. First Trust Advisors LP purchased a new stake in Planet Fitness during the second quarter valued at approximately $975,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Planet Fitness during the second quarter valued at approximately $337,000. Institutional investors own 83.49% of the company’s stock.

Planet Fitness Company Profile

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