Guggenheim Issues Positive Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price objective hoisted by Guggenheim from $105.00 to $110.00 in a research report released on Monday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

PLNT has been the topic of a number of other reports. BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Piper Sandler boosted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Stifel Nicolaus dropped their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Planet Fitness Stock Down 0.0 %

PLNT opened at $97.53 on Monday. The company’s 50-day moving average price is $97.41 and its two-hundred day moving average price is $95.85. Planet Fitness has a twelve month low of $57.64 and a twelve month high of $110.00. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Planet Fitness’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Trading of Planet Fitness

Several institutional investors and hedge funds have recently made changes to their positions in PLNT. Tidal Investments LLC increased its stake in Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after acquiring an additional 16,503 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Planet Fitness in the 4th quarter worth about $3,378,000. AMJ Financial Wealth Management bought a new position in shares of Planet Fitness during the 4th quarter valued at about $495,000. Nkcfo LLC purchased a new position in shares of Planet Fitness during the 4th quarter valued at about $1,088,000. Finally, Artemis Investment Management LLP bought a new stake in Planet Fitness in the 4th quarter worth approximately $18,767,000. Hedge funds and other 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.