Macquarie Reaffirms Neutral Rating for Planet Fitness (NYSE:PLNT)

Planet Fitness (NYSE:PLNT)‘s stock had its “neutral” rating restated by investment analysts at Macquarie in a research report issued on Tuesday,Benzinga reports. They currently have a $95.00 price objective on the stock. Macquarie’s price target would suggest a potential upside of 0.90% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Morgan Stanley increased their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Finally, Stifel Nicolaus decreased their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.00.

Planet Fitness Trading Up 1.4%

Shares of NYSE PLNT opened at $94.15 on Tuesday. The company has a market capitalization of $7.97 billion, a P/E ratio of 50.62, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness has a 12 month low of $60.56 and a 12 month high of $110.00. The stock has a 50 day moving average of $96.26 and a 200-day moving average of $97.97.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same period in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLNT. First Horizon Advisors Inc. increased its stake in shares of Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock valued at $36,000 after purchasing an additional 242 shares during the last quarter. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd bought a new position in Planet Fitness in the fourth quarter valued at about $39,000. CoreCap Advisors LLC grew its position in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock worth $50,000 after acquiring an additional 387 shares in the last quarter. 95.53% 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 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.