Planet Fitness (NYSE:PLNT) had its price target increased by stock analysts at Cowen from $30.00 to $38.00 in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the stock. Cowen’s price objective would suggest a potential upside of 16.35% from the company’s current price.

A number of other research firms also recently weighed in on PLNT. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Planet Fitness in a research note on Monday, December 18th. Bank of America increased their target price on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Thursday, October 26th. Jefferies Group downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $31.00 target price (up from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Planet Fitness currently has an average rating of “Buy” and an average target price of $32.88.

Planet Fitness (NYSE PLNT) traded down $0.43 during midday trading on Wednesday, hitting $32.66. 984,602 shares of the stock were exchanged, compared to its average volume of 1,070,000. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $35.03. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. The firm has a market capitalization of $3,210.00 and a P/E ratio of 48.75.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The business had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. During the same period in the prior year, the business posted $0.16 earnings per share. Planet Fitness’s revenue for the quarter was up 12.1% compared to the same quarter last year. analysts anticipate that Planet Fitness will post 0.82 EPS for the current fiscal year.

In other Planet Fitness news, CEO Christopher Rondeau sold 120,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $34.27, for a total transaction of $4,112,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Richard L. Moore sold 1,640 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total transaction of $44,280.00. Following the sale, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at $44,280. The disclosure for this sale can be found here. Insiders have sold 1,074,427 shares of company stock worth $32,989,022 over the last three months. Company insiders own 19.87% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in Planet Fitness by 164.0% during the third quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after acquiring an additional 3,022 shares during the period. D.A. Davidson & CO. bought a new stake in Planet Fitness during the second quarter valued at about $145,000. Ameritas Investment Partners Inc. boosted its holdings in Planet Fitness by 234.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after acquiring an additional 5,189 shares during the period. Prudential Financial Inc. bought a new stake in Planet Fitness during the third quarter valued at about $214,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Planet Fitness by 126.5% during the second quarter. Great West Life Assurance Co. Can now owns 10,137 shares of the company’s stock valued at $236,000 after acquiring an additional 5,662 shares during the period.

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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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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