Roth Mkm Reaffirms Buy Rating for Planet Fitness (NYSE:PLNT)

Roth Mkm restated their buy rating on shares of Planet Fitness (NYSE:PLNT) in a research report released on Wednesday morning,Benzinga reports. They currently have a $115.00 target price on the stock, up from their previous target price of $110.00.

PLNT has been the topic of a number of other research reports. Robert W. Baird upped their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Macquarie reiterated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Morgan Stanley upped their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.38.

Planet Fitness Trading Up 0.4 %

NYSE PLNT opened at $90.52 on Wednesday. The stock’s 50-day moving average price is $102.44 and its two-hundred day moving average price is $92.24. The company has a market cap of $7.66 billion, a PE ratio of 48.67, a PEG ratio of 2.45 and a beta of 1.53. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. Research analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in Planet Fitness by 132.5% during the third 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 during the period. State Street Corp boosted its position in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares during the period. Nkcfo LLC bought a new stake in Planet Fitness during the fourth quarter worth approximately $1,088,000. Y Intercept Hong Kong Ltd bought a new stake in Planet Fitness during the third quarter worth approximately $604,000. Finally, Artemis Investment Management LLP bought a new stake in Planet Fitness during the fourth quarter worth approximately $18,767,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.