Planet Fitness, Inc. (NYSE:PLNT) Receives $101.72 Average Price Target from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $101.72.

Several equities research analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Canaccord Genuity Group assumed coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price for the company. Macquarie lowered their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Guggenheim boosted their target price on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th.

Planet Fitness Stock Up 0.4 %

Shares of PLNT stock opened at $96.15 on Thursday. The business has a 50-day moving average price of $95.77 and a two-hundred day moving average price of $96.81. Planet Fitness has a 12-month low of $58.51 and a 12-month high of $110.00. The firm has a market cap of $8.14 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. grew its holdings in shares of Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after acquiring an additional 2,570,826 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the 4th quarter worth approximately $130,376,000. Norges Bank purchased a new stake in shares of Planet Fitness in the 4th quarter worth approximately $100,009,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the 1st quarter worth approximately $54,384,000. Finally, Artemis Investment Management LLP grew its stake in shares of Planet Fitness by 253.5% in the 1st quarter. Artemis Investment Management LLP now owns 671,073 shares of the company’s stock worth $64,832,000 after buying an additional 481,263 shares during the last quarter. Hedge funds and other institutional investors 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.