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

Shares of Planet Fitness, Inc. (NYSE:PLNTGet Free Report) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $71.00.

A number of equities research analysts have issued reports on the company. DA Davidson restated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Monday, February 5th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. JPMorgan Chase & Co. reduced their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, Stifel Nicolaus reduced their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd.

Read Our Latest Report on Planet Fitness

Planet Fitness Stock Performance

Planet Fitness stock opened at $56.48 on Wednesday. The stock has a market cap of $4.98 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 1.21 and a beta of 1.40. Planet Fitness has a one year low of $44.13 and a one year high of $84.48. The stock has a fifty day moving average of $67.31 and a 200 day moving average of $62.96.

Planet Fitness (NYSE:PLNTGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Planet Fitness’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Planet Fitness will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of PLNT. Asset Management One Co. Ltd. increased its stake in Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in 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 in the last quarter. Amalgamated Bank increased its stake in Planet Fitness by 0.3% during the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after buying an additional 179 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Planet Fitness by 2.8% in the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after purchasing an additional 182 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Planet Fitness by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

(Get Free Report

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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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