Planet Fitness Inc (PLNT) Given Average Rating of “Buy” by Brokerages
Shares of Planet Fitness Inc (NYSE:PLNT) have earned a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $34.14.
Several brokerages have recently issued reports on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Jefferies Group lowered Planet Fitness from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Bank of America raised their price target on Planet Fitness from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Piper Jaffray Companies reissued an “overweight” rating on shares of Planet Fitness in a research report on Monday, December 18th. Finally, Cowen raised their price objective on Planet Fitness from $30.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th.
Shares of Planet Fitness (PLNT) traded up $0.74 during midday trading on Wednesday, reaching $31.50. 381,506 shares of the company’s stock were exchanged, compared to its average volume of 1,099,229. Planet Fitness has a twelve month low of $18.32 and a twelve month 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 company has a market capitalization of $3,070.00 and a PE ratio of 46.72.
Several large investors have recently made changes to their positions in the stock. Caxton Associates LP bought a new position in shares of Planet Fitness during the 4th quarter valued at approximately $624,000. AMP Capital Investors Ltd lifted its holdings in Planet Fitness by 46.2% in the 4th quarter. AMP Capital Investors Ltd now owns 55,736 shares of the company’s stock worth $1,931,000 after purchasing an additional 17,606 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Planet Fitness in the 4th quarter worth approximately $4,298,000. Geode Capital Management LLC lifted its holdings in Planet Fitness by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 703,069 shares of the company’s stock worth $24,347,000 after purchasing an additional 4,285 shares in the last quarter. Finally, Investec Asset Management LTD raised its holdings in shares of Planet Fitness by 13.2% during the 4th quarter. Investec Asset Management LTD now owns 4,838,749 shares of the company’s stock worth $167,566,000 after acquiring an additional 564,783 shares in the last quarter.
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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.
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