Planet Fitness Inc (NYSE:PLNT) Receives Average Rating of “Buy” from Analysts

Shares of Planet Fitness Inc (NYSE:PLNT) have been given a consensus rating of “Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $79.77.

A number of analysts have weighed in on PLNT shares. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $83.00 price target for the company. in a research report on Tuesday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $84.00 price target on shares of Planet Fitness in a research report on Wednesday, November 13th. Robert W. Baird boosted their price target on Planet Fitness from $84.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. ValuEngine cut Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Roth Capital reduced their price target on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Shares of NYSE PLNT traded up $0.48 during mid-day trading on Thursday, reaching $79.50. The company had a trading volume of 181,789 shares, compared to its average volume of 676,383. The stock has a market cap of $7.22 billion, a PE ratio of 65.16, a P/E/G ratio of 1.99 and a beta of 0.66. The company has a 50-day moving average price of $74.81 and a two-hundred day moving average price of $69.70. Planet Fitness has a 1-year low of $56.14 and a 1-year high of $81.90.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $166.82 million for the quarter, compared to analysts’ expectations of $162.26 million. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. Sell-side analysts predict that Planet Fitness will post 1.57 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Calamos Advisors LLC increased its holdings in Planet Fitness by 42.0% during the 4th quarter. Calamos Advisors LLC now owns 75,557 shares of the company’s stock worth $5,643,000 after purchasing an additional 22,347 shares in the last quarter. Chicago Capital LLC boosted its position in Planet Fitness by 4,254.9% in the fourth quarter. Chicago Capital LLC now owns 313,556 shares of the company’s stock valued at $23,416,000 after buying an additional 306,356 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Planet Fitness by 2.0% during the fourth quarter. Artemis Investment Management LLP now owns 971,462 shares of the company’s stock worth $71,974,000 after purchasing an additional 19,514 shares during the period. Patten & Patten Inc. TN acquired a new position in Planet Fitness in the fourth quarter valued at $314,000. Finally, Maverick Capital Ltd. increased its position in shares of Planet Fitness by 395.0% during the third quarter. Maverick Capital Ltd. now owns 165,562 shares of the company’s stock worth $9,581,000 after acquiring an additional 132,112 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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