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

Planet Fitness, Inc. (NYSE:PLNTGet Rating) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $93.46.

A number of equities research analysts have issued reports on the stock. Cowen increased their target price on shares of Planet Fitness from $80.00 to $90.00 in a research report on Wednesday, November 16th. Morgan Stanley cut their price target on shares of Planet Fitness from $93.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, November 14th. Stifel Nicolaus raised their price target on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. BMO Capital Markets raised their price target on shares of Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Finally, Piper Sandler raised their price target on shares of Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, December 22nd.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $80.47 on Friday. Planet Fitness has a 52 week low of $54.15 and a 52 week high of $97.04. The company has a market cap of $7.21 billion, a PE ratio of 95.80, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The firm has a 50 day simple moving average of $77.78 and a 200 day simple moving average of $71.98.

Planet Fitness (NYSE:PLNTGet Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Planet Fitness had a net margin of 8.52% and a negative return on equity of 36.77%. The company had revenue of $244.39 million during the quarter, compared to the consensus estimate of $237.40 million. On average, equities analysts predict that Planet Fitness will post 1.59 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors have recently modified their holdings of PLNT. PNC Financial Services Group Inc. grew its position in shares of Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after buying an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new position in Planet Fitness during the first quarter valued at approximately $357,000. BlackRock Inc. grew its holdings in Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in Planet Fitness during the first quarter valued at approximately $919,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

About Planet Fitness

(Get Rating)

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, 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.