Today: The Planet Fitness Inc. (PLNT) Rating Reiterate by Jefferies Group

The Planet Fitness Inc. (PLNT) Rating Reiterate by Jefferies Group

Planet Fitness Inc. (NYSE:PLNT)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group in a research note issued on Thursday. They currently have a $27.00 target price on the stock, up from their previous target price of $26.00. Jefferies Group’s price target points to a potential upside of 27.60% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Cowen and Company reiterated an “outperform” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Planet Fitness in a report on Thursday. Guggenheim reissued a “buy” rating and issued a $24.00 target price (up previously from $23.00) on shares of Planet Fitness in a research report on Thursday. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Imperial Capital boosted their target price on shares of Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Finally, Piper Jaffray Cos. boosted their target price on shares of Planet Fitness from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock 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 12 month low of $13.23 and a 12 month high of $23.41. The firm’s market cap is $1.06 billion. The company has a 50-day moving average of $19.94 and a 200-day moving average of $19.05.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Planet Fitness had a net margin of 3.65% and a return on equity of 785.79%. The firm had revenue of $87 million for the quarter, compared to analyst estimates of $79.32 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 26.5% compared to the same quarter last year. Equities analysts forecast that Planet Fitness will post $0.47 EPS for the current fiscal year.

In other Planet Fitness news, insider Richard L. Moore sold 8,200 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.00, for a total transaction of $172,200.00. Following the completion of the transaction, the insider now directly owns 8,200 shares of the company’s stock, valued at approximately $172,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $19.54, for a total transaction of $390,800.00. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its stake in shares of Planet Fitness by 13.8% in the second quarter. Capital World Investors now owns 3,329,286 shares of the company’s stock worth $62,857,000 after buying an additional 403,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Planet Fitness by 66.8% in the second quarter. Vanguard Group Inc. now owns 1,635,810 shares of the company’s stock worth $30,884,000 after buying an additional 654,918 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Planet Fitness by 339.3% in the second quarter. Citadel Advisors LLC now owns 1,410,132 shares of the company’s stock worth $26,623,000 after buying an additional 1,089,135 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Planet Fitness during the second quarter worth $23,815,000. Finally, Copper Rock Capital Partners LLC bought a new stake in shares of Planet Fitness during the second quarter worth $19,279,000. 83.88% of the stock is owned by hedge funds and other institutional investors.

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