Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $96.92.

Several brokerages have commented on PLNT. BMO Capital Markets dropped their target price on shares of Planet Fitness from $96.00 to $88.00 in a report on Wednesday, May 11th. Exane BNP Paribas upgraded shares of Planet Fitness from an “underperform” rating to a “neutral” rating in a report on Thursday, July 7th. Piper Sandler lowered their price objective on shares of Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a report on Wednesday, May 11th. Finally, DA Davidson lowered their price objective on shares of Planet Fitness from $110.00 to $90.00 in a report on Friday, May 13th.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $79.92 on Friday. The company has a market capitalization of $7.27 billion, a P/E ratio of 124.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. The company’s 50 day moving average price is $70.35 and its two-hundred day moving average price is $79.21. Planet Fitness has a 52 week low of $61.11 and a 52 week high of $99.60.

Planet Fitness (NYSE:PLNTGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The business’s quarterly revenue was up 66.8% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. Analysts forecast that Planet Fitness will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently added to or reduced their stakes in PLNT. Oppenheimer Asset Management Inc. boosted its position in Planet Fitness by 26.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 14,043 shares of the company’s stock worth $1,272,000 after purchasing an additional 2,913 shares during the period. Loews Corp bought a new position in Planet Fitness during the fourth quarter worth $205,000. Tributary Capital Management LLC boosted its position in Planet Fitness by 16.2% during the first quarter. Tributary Capital Management LLC now owns 26,500 shares of the company’s stock worth $2,239,000 after purchasing an additional 3,700 shares during the period. Sandy Spring Bank bought a new position in Planet Fitness during the first quarter worth $84,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Planet Fitness by 5.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,273 shares of the company’s stock worth $952,000 after purchasing an additional 621 shares during the period. 93.87% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

(Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

Featured Articles

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.