Planet Fitness (NYSE:PLNT) Hits New 12-Month High – Still a Buy?

Shares of Planet Fitness, Inc. (NYSE:PLNT) reached a new 52-week high on Wednesday . The stock traded as high as $102.88 and last traded at $102.47, with a volume of 481072 shares trading hands. The stock had previously closed at $100.17.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLNT. Macquarie reissued a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Finally, Bank of America boosted their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Stock Up 0.1 %

The business’s 50 day moving average is $89.96 and its two-hundred day moving average is $80.84. The firm has a market capitalization of $8.49 billion, a P/E ratio of 53.90, a PEG ratio of 3.39 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. LRI Investments LLC grew its stake in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. Quarry LP grew its position in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the period. GAMMA Investing LLC lifted its position in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $200,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.