Today: The Roth Capital Analysts Give Planet Fitness Inc. (PLNT) a $23.00 Price Target

The Roth Capital Analysts Give Planet Fitness Inc. (PLNT) a $23.00 Price Target

Roth Capital set a $23.00 price target on Planet Fitness Inc. (NYSE:PLNT) in a report issued on Thursday morning. The firm currently has a a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Jefferies Group restated a buy rating and set a $27.00 price objective (up previously from $26.00) on shares of Planet Fitness in a research report on Thursday. Guggenheim restated a buy rating and set a $24.00 price objective (up previously from $23.00) on shares of Planet Fitness in a research report on Thursday. Zacks Investment Research upgraded Planet Fitness from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research report on Tuesday, August 16th. Cowen and Company restated an outperform rating and set a $25.00 price objective (up previously from $24.00) on shares of Planet Fitness in a research report on Thursday. Finally, Wedbush restated an outperform rating and set a $23.00 price objective (up previously from $21.00) on shares of Planet Fitness in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $22.63.

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

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company had revenue of $87 million for the quarter, compared to analyst estimates of $79.32 million. Planet Fitness had a return on equity of 785.79% and a net margin of 3.65%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. On average, equities research analysts predict that Planet Fitness will post $0.47 EPS for the current fiscal year.

In other news, insider Richard L. Moore sold 8,200 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $21.00, for a total value of $172,200.00. Following the transaction, the insider now directly owns 8,200 shares of the company’s stock, valued at approximately $172,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $19.76, for a total value of $395,200.00. The disclosure for this sale can be found here. 32.39% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PLNT. BlackRock Advisors LLC increased its position in Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock worth $146,000 after buying an additional 240 shares during the period. American International Group Inc. increased its position in Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock worth $171,000 after buying an additional 288 shares during the period. Fortaleza Asset Management Inc. increased its position in Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock worth $187,000 after buying an additional 3,785 shares during the period. First Mercantile Trust Co. purchased a new position in Planet Fitness during the third quarter worth $205,000. Finally, Nationwide Fund Advisors increased its position in Planet Fitness by 4.6% in the second quarter. Nationwide Fund Advisors now owns 10,261 shares of the company’s stock worth $194,000 after buying an additional 452 shares during the period. 83.49% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Company Profile

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