Planet Fitness (NYSE:PLNT) Sets New 12-Month High at $77.30

Planet Fitness, Inc. (NYSE:PLNT) shares reached a new 52-week high on Monday . The stock traded as high as $77.30 and last traded at $77.00, with a volume of 158951 shares traded. The stock had previously closed at $75.37.

Analyst Ratings Changes

Several research firms have recently commented on PLNT. DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $100.00 in a research note on Monday, June 10th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. Finally, Robert W. Baird increased their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Planet Fitness Trading Up 1.7 %

The firm’s 50 day simple moving average is $68.50 and its 200 day simple moving average is $66.61. The firm has a market cap of $6.76 billion, a PE ratio of 44.25, a PEG ratio of 2.53 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. As a group, equities research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after purchasing an additional 351,401 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Planet Fitness by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,029 shares of the company’s stock worth $1,428,000 after buying an additional 14,029 shares during the period. Diversified Trust Co increased its position in Planet Fitness by 3.4% during the fourth quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock valued at $1,479,000 after acquiring an additional 659 shares during the last quarter. Baker Tilly Wealth Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $401,000. Finally, Handelsinvest Investeringsforvaltning bought a new stake in shares of Planet Fitness in the 4th quarter worth about $338,000. Institutional investors 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.