BMO Capital Markets Boosts Planet Fitness (NYSE:PLNT) Price Target to $110.00

Planet Fitness (NYSE:PLNT) had its price objective upped by stock analysts at BMO Capital Markets from $100.00 to $110.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 14.83% from the stock’s current price.

PLNT has been the subject of a number of other reports. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Roth Mkm reissued a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Piper Sandler increased their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Macquarie reduced their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Five investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Planet Fitness Trading Down 0.8 %

NYSE:PLNT opened at $95.80 on Monday. Planet Fitness has a 12-month low of $57.64 and a 12-month high of $110.00. The firm has a market cap of $8.11 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The stock has a fifty day moving average price of $100.06 and a 200 day moving average price of $95.02.

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

Institutional Trading of Planet Fitness

A number of institutional investors have recently modified their holdings of PLNT. Tidal Investments LLC boosted its position in shares of Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after purchasing an additional 16,503 shares in the last quarter. AMJ Financial Wealth Management acquired a new position in Planet Fitness during the fourth quarter worth about $495,000. State Street Corp increased its holdings in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after buying an additional 37,236 shares in the last quarter. Nkcfo LLC purchased a new stake in shares of Planet Fitness during the 4th quarter worth approximately $1,088,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the 3rd quarter valued at approximately $604,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.