ValuEngine upgraded shares of Planet Fitness (NYSE:PLNT) from a buy rating to a strong-buy rating in a research note released on Tuesday.

A number of other equities research analysts have also commented on the company. Zacks Investment Research raised Planet Fitness from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Wednesday, April 18th. TheStreet raised Planet Fitness from a c- rating to a b rating in a research report on Monday, August 6th. Cowen raised their price target on Planet Fitness from $45.00 to $50.00 and gave the stock an outperform rating in a research report on Monday, June 11th. DA Davidson set a $45.00 price target on Planet Fitness and gave the stock a buy rating in a research report on Monday, April 23rd. Finally, Bank of America raised their price target on Planet Fitness from $45.00 to $56.00 and gave the stock a buy rating in a research report on Thursday, July 12th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Planet Fitness presently has a consensus rating of Buy and an average target price of $49.58.

NYSE PLNT opened at $50.78 on Tuesday. The stock has a market cap of $5.11 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.52. The company has a current ratio of 2.08, a quick ratio of 2.05 and a debt-to-equity ratio of -7.61. Planet Fitness has a one year low of $23.49 and a one year high of $53.41.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The company had revenue of $140.55 million for the quarter, compared to analyst estimates of $130.99 million. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. Planet Fitness’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. research analysts anticipate that Planet Fitness will post 1.12 earnings per share for the current fiscal year.

In related news, CEO Christopher Rondeau sold 100,000 shares of Planet Fitness stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $43.38, for a total value of $4,338,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 520,660 shares of company stock worth $24,378,891. 16.38% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in PLNT. Renaissance Technologies LLC acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $4,298,000. Guggenheim Capital LLC acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $239,000. Algert Global LLC acquired a new stake in Planet Fitness in the 1st quarter valued at approximately $235,000. SG Americas Securities LLC raised its position in Planet Fitness by 138.7% in the 1st quarter. SG Americas Securities LLC now owns 7,871 shares of the company’s stock valued at $297,000 after buying an additional 4,574 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Planet Fitness in the 1st quarter valued at approximately $1,396,000. 92.67% of the stock is currently 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 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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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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