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

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $105.76.

PLNT has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Canaccord Genuity Group boosted their target price on Planet Fitness from $120.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley raised their price target on Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, May 9th.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $103.93 on Friday. The stock has a fifty day simple moving average of $98.90 and a two-hundred day simple moving average of $99.78. The firm has a market capitalization of $8.75 billion, a PE ratio of 55.88, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness has a 52-week low of $68.75 and a 52-week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The business had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, sell-side analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group grew its position in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock worth $36,000 after purchasing an additional 242 shares during the last quarter. CoreCap Advisors LLC increased its stake in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the period. Farther Finance Advisors LLC lifted its holdings in Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock valued at $50,000 after buying an additional 387 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Planet Fitness in the 4th quarter valued at about $51,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.