Planet Fitness (PLNT) Price Target Raised to $57.00 at Guggenheim
PLNT has been the subject of several other research reports. JPMorgan Chase & Co. downgraded Planet Fitness from an overweight rating to a neutral rating and set a $22.00 price target for the company. in a report on Monday, August 13th. Berenberg Bank started coverage on Planet Fitness in a report on Wednesday, June 20th. They set a buy rating and a $53.00 price target for the company. DA Davidson raised their price target on Planet Fitness to $56.00 and gave the company a buy rating in a report on Monday, July 23rd. Zacks Investment Research downgraded Planet Fitness from a buy rating to a hold rating in a report on Sunday, July 15th. Finally, Cowen reaffirmed a buy rating and set a $58.00 price target on shares of Planet Fitness in a report on Sunday, August 12th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $50.15.
NYSE PLNT opened at $50.15 on Monday. The company has a market capitalization of $4.95 billion, a PE ratio of 48.34, a P/E/G ratio of 2.31 and a beta of 0.55. The company has a debt-to-equity ratio of -7.61, a current ratio of 2.08 and a quick ratio of 2.05. Planet Fitness has a 12 month low of $25.55 and a 12 month high of $53.41.
In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $45.15, for a total transaction of $903,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dorvin D. Lively sold 105,127 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $51.23, for a total value of $5,385,656.21. Following the transaction, the chief financial officer now owns 41,874 shares in the company, valued at approximately $2,145,205.02. The disclosure for this sale can be found here. Insiders have sold a total of 618,672 shares of company stock worth $30,843,556 in the last quarter. Company insiders own 16.38% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PLNT. FMR LLC increased its position in Planet Fitness by 407.9% during the 2nd quarter. FMR LLC now owns 2,527,143 shares of the company’s stock worth $111,043,000 after buying an additional 2,029,530 shares during the period. Scopus Asset Management L.P. bought a new position in Planet Fitness during the 1st quarter worth $33,615,000. BlackRock Inc. increased its position in Planet Fitness by 10.7% during the 2nd quarter. BlackRock Inc. now owns 6,027,451 shares of the company’s stock worth $264,845,000 after buying an additional 581,619 shares during the period. Blair William & Co. IL increased its position in Planet Fitness by 126.8% during the 1st quarter. Blair William & Co. IL now owns 752,910 shares of the company’s stock worth $28,437,000 after buying an additional 420,961 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in Planet Fitness during the 2nd quarter worth $15,098,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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