Planet Fitness (NYSE:PLNT) had its price target hoisted by Guggenheim from $55.00 to $57.00 in a report released on Monday. The brokerage currently has a buy rating on the stock.

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.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $140.55 million during the quarter, compared to the consensus estimate of $130.99 million. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. sell-side analysts forecast that Planet Fitness will post 1.13 earnings per share for the current year.

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.

Recommended Story: Technical Analysis

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.