Planet Fitness, Inc. (NYSE:PLNT) Receives $77.64 Average PT from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $77.64.

Several analysts have commented on PLNT shares. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $70.00 in a report on Friday, May 10th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Finally, Royal Bank of Canada decreased their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the period. Fidelis Capital Partners LLC purchased a new position in Planet Fitness in the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in Planet Fitness in the 4th quarter valued at $47,000. Asset Management One Co. Ltd. grew its position in 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 last quarter. Finally, First Horizon Advisors Inc. grew its position in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 0.4 %

Planet Fitness stock opened at $73.59 on Friday. The firm has a 50-day moving average price of $65.81 and a 200-day moving average price of $66.50. The firm has a market capitalization of $6.49 billion, a PE ratio of 42.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.43. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $75.86.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, sell-side analysts predict that Planet Fitness will post 2.43 earnings per share for the current fiscal year.

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.