Planet Fitness (NYSE:PLNT) had its target price hoisted by Jefferies Financial Group from $75.00 to $85.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a buy rating on the stock. Jefferies Financial Group also issued estimates for Planet Fitness’ Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.37 EPS and FY2020 earnings at $1.92 EPS.

PLNT has been the subject of a number of other research reports. ValuEngine upgraded Planet Fitness from a buy rating to a strong-buy rating in a report on Wednesday, May 1st. Wedbush increased their target price on Planet Fitness from $55.00 to $60.00 and gave the stock a neutral rating in a report on Wednesday, February 27th. Cowen reiterated an average rating and set a $85.00 target price (up previously from $65.00) on shares of Planet Fitness in a report on Monday, April 29th. Roth Capital increased their target price on Planet Fitness from $55.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, February 27th. Finally, Piper Jaffray Companies increased their target price on Planet Fitness from $70.00 to $84.00 and gave the stock an overweight rating in a report on Monday, April 29th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Planet Fitness currently has a consensus rating of Buy and a consensus target price of $65.43.

PLNT stock opened at $73.11 on Friday. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 59.93, a PEG ratio of 2.52 and a beta of 0.76. Planet Fitness has a 1 year low of $36.72 and a 1 year high of $77.34.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $148.82 million during the quarter, compared to analysts’ expectations of $153.41 million. Planet Fitness had a negative return on equity of 64.71% and a net margin of 15.91%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities analysts forecast that Planet Fitness will post 1.54 earnings per share for the current year.

In other news, Director David P. Berg sold 6,291 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now owns 6,615 shares in the company, valued at approximately $408,343.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Rondeau sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $60.53, for a total value of $938,215.00. The disclosure for this sale can be found here. Insiders sold a total of 466,291 shares of company stock valued at $29,813,238 in the last 90 days. 14.52% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. LPL Financial LLC lifted its stake in Planet Fitness by 113.0% in the 3rd quarter. LPL Financial LLC now owns 20,412 shares of the company’s stock valued at $1,103,000 after purchasing an additional 10,830 shares during the last quarter. Legal & General Group Plc lifted its stake in Planet Fitness by 8.3% in the 3rd quarter. Legal & General Group Plc now owns 31,861 shares of the company’s stock valued at $1,722,000 after purchasing an additional 2,454 shares during the last quarter. Morgan Stanley lifted its stake in Planet Fitness by 75.6% in the 3rd quarter. Morgan Stanley now owns 563,195 shares of the company’s stock valued at $30,429,000 after purchasing an additional 242,532 shares during the last quarter. Vanguard Group Inc. lifted its stake in Planet Fitness by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock valued at $464,518,000 after purchasing an additional 280,726 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Planet Fitness by 12.6% in the 3rd quarter. Federated Investors Inc. PA now owns 378,938 shares of the company’s stock valued at $20,474,000 after purchasing an additional 42,488 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

About Planet Fitness

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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