Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Planet Fitness, Inc. (NYSE:PLNT) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $106.6250.

A number of equities analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. Macquarie reaffirmed a “neutral” rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Morgan Stanley lifted their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, May 22nd.

Planet Fitness Stock Performance

Shares of PLNT opened at $106.21 on Friday. Planet Fitness has a one year low of $75.55 and a one year high of $114.47. The stock’s fifty day moving average is $107.60 and its 200-day moving average is $101.92. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 2.44 and a beta of 1.40.

Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. Planet Fitness’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. Analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Game Plan Financial Advisors LLC acquired a new stake in Planet Fitness during the 2nd quarter worth about $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the period. Brooklyn Investment Group grew its position in Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. First Horizon Advisors Inc. increased its stake in 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 buying an additional 242 shares during the period. Finally, CoreCap Advisors LLC lifted its position in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.