Planet Fitness (NYSE:PLNT) Coverage Initiated at UBS Group

Stock analysts at UBS Group began coverage on shares of Planet Fitness (NYSE:PLNT) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $125.00 price target on the stock. UBS Group’s price target indicates a potential upside of 32.70% from the company’s current price.

A number of other research firms have also commented on PLNT. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $126.00 target price on shares of Planet Fitness in a research report on Monday, September 15th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.50.

Planet Fitness Stock Performance

NYSE:PLNT opened at $94.20 on Friday. The firm’s fifty day moving average is $102.00 and its 200-day moving average is $102.61. Planet Fitness has a 52 week low of $77.77 and a 52 week high of $114.47. The firm has a market cap of $7.93 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.09 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 13.3% 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLNT. Ethic Inc. lifted its stake in shares of Planet Fitness by 6.5% in the third quarter. Ethic Inc. now owns 10,589 shares of the company’s stock valued at $1,099,000 after buying an additional 647 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Planet Fitness by 234.7% in the third quarter. Pacer Advisors Inc. now owns 11,060 shares of the company’s stock valued at $1,148,000 after buying an additional 7,756 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Planet Fitness by 334.7% in the third quarter. Vontobel Holding Ltd. now owns 24,958 shares of the company’s stock valued at $2,591,000 after buying an additional 19,217 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Planet Fitness in the third quarter valued at $802,000. Finally, Aaron Wealth Advisors LLC bought a new position in shares of Planet Fitness in the third quarter valued at $485,000. Institutional investors and hedge funds 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.