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

Planet Fitness, Inc. (NYSE:PLNT) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $70.21.

A number of analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. DA Davidson reissued a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. JPMorgan Chase & Co. cut their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Finally, StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday.

Planet Fitness Stock Down 0.3 %

NYSE:PLNT opened at $61.86 on Thursday. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86. The stock’s 50-day simple moving average is $61.42 and its 200 day simple moving average is $65.21. The firm has a market capitalization of $5.45 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, analysts anticipate that Planet Fitness will post 2.48 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its stake in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Planet Fitness by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after buying an additional 174 shares in the last quarter. Amalgamated Bank increased its position in shares of Planet Fitness by 0.3% during the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after acquiring an additional 179 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Planet Fitness by 2.8% in the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after acquiring an additional 182 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Planet Fitness by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock worth $1,841,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.