Planet Fitness (NYSE:PLNT) Given New $100.00 Price Target at JPMorgan Chase & Co.

Planet Fitness (NYSE:PLNT) had its price objective hoisted by JPMorgan Chase & Co. from $90.00 to $100.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

PLNT has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price on the stock. Macquarie restated a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Raymond James upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, DA Davidson raised their target price on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness Trading Down 1.4 %

PLNT opened at $104.47 on Friday. The firm has a market capitalization of $8.84 billion, a PE ratio of 56.17, a PEG ratio of 2.87 and a beta of 1.52. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $107.68. The firm’s 50-day moving average price is $100.01 and its 200 day moving average price is $86.56.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Planet Fitness will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds have recently bought and sold shares of PLNT. Quarry LP grew its position in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 95.53% 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 brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.