Planet Fitness, Inc. (NYSE:PLNT – Get Free Report) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $71.86.
PLNT has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. Robert W. Baird upped their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Stifel Nicolaus cut shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price target for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Thursday, May 9th. Finally, Royal Bank of Canada cut their price objective on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th.
Check Out Our Latest Analysis on Planet Fitness
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Planet Fitness by 66.8% during the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after acquiring an additional 351,401 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Planet Fitness in the fourth quarter worth $389,000. Dimensional Fund Advisors LP raised its holdings in shares of Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after buying an additional 133,541 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Planet Fitness during the third quarter worth $944,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Planet Fitness by 80.4% during the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after buying an additional 5,719 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Price Performance
Shares of Planet Fitness stock opened at $63.64 on Monday. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $75.86. The firm’s 50-day moving average is $62.22 and its 200 day moving average is $65.97. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 2.14 and a beta of 1.37.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Planet Fitness will post 2.43 EPS for the current fiscal year.
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.
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