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

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

PLNT has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $70.00 in a research report on Friday, May 10th.

Hedge Funds Weigh In On Planet Fitness

Several large investors have recently added to or reduced their stakes in PLNT. Allworth Financial LP grew its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $47,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of 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 purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $73.60 on Friday. The business has a 50 day simple moving average of $66.33 and a 200 day simple moving average of $66.54. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.47 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its 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 firm 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, analysts predict that Planet Fitness will post 2.43 EPS for the current 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.