Planet Fitness (NYSE:PLNT) had its price target boosted by analysts at Piper Sandler from $81.00 to $90.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 8.80% from the company’s current price.
Several other research analysts also recently issued reports on PLNT. DA Davidson raised their price objective on shares of Planet Fitness from $66.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Zacks Investment Research raised shares of Planet Fitness from a “sell” rating to a “hold” rating and set a $66.00 price objective on the stock in a report on Tuesday, October 6th. BNP Paribas began coverage on shares of Planet Fitness in a research report on Friday, November 13th. They set an “underperform” rating and a $55.00 target price for the company. BMO Capital Markets lifted their target price on shares of Planet Fitness from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 14th. Finally, Exane BNP Paribas began coverage on shares of Planet Fitness in a research report on Friday, November 13th. They set an “underperform” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Planet Fitness presently has a consensus rating of “Hold” and an average target price of $71.13.
Shares of NYSE:PLNT opened at $82.72 on Tuesday. The company’s fifty day moving average price is $76.45 and its 200 day moving average price is $64.67. Planet Fitness has a 12 month low of $23.77 and a 12 month high of $88.77. The firm has a market capitalization of $7.16 billion, a P/E ratio of 196.95, a P/E/G ratio of 33.12 and a beta of 1.13.
In other news, CEO Christopher Rondeau sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $79.04, for a total value of $11,856,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Dorvin D. Lively sold 56,997 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $75.05, for a total transaction of $4,277,624.85. The disclosure for this sale can be found here. In the last three months, insiders sold 505,703 shares of company stock valued at $38,517,224. Company insiders own 9.33% of the company’s stock.
A number of hedge funds have recently modified their holdings of PLNT. Nisa Investment Advisors LLC acquired a new position in Planet Fitness during the third quarter worth approximately $92,000. Bank of Montreal Can grew its stake in Planet Fitness by 352.6% during the second quarter. Bank of Montreal Can now owns 1,738 shares of the company’s stock worth $98,000 after buying an additional 1,354 shares during the period. AJO LP purchased a new stake in Planet Fitness during the third quarter worth approximately $113,000. Private Advisor Group LLC purchased a new stake in Planet Fitness during the second quarter worth approximately $139,000. Finally, Prudential Financial Inc. purchased a new stake in Planet Fitness during the second quarter worth approximately $205,000.
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, Panama, Mexico, and Australia.
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