StockNews.com Upgrades Planet Fitness (NYSE:PLNT) to “Hold”

Planet Fitness (NYSE:PLNT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

PLNT has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Royal Bank of Canada increased their price target on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Planet Fitness Stock Down 2.0 %

Shares of NYSE PLNT opened at $58.66 on Tuesday. The stock’s 50 day moving average price is $61.78 and its two-hundred day moving average price is $65.02. Planet Fitness has a 52-week low of $44.13 and a 52-week high of $83.11. The stock has a market capitalization of $5.17 billion, a P/E ratio of 36.21, a PEG ratio of 1.95 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Planet Fitness’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Planet Fitness will post 2.48 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Allworth Financial LP boosted its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Planet Fitness during the 4th quarter worth $47,000. CWM LLC boosted its stake in shares of Planet Fitness by 109.5% during the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 763 shares in the last quarter. Covestor Ltd boosted its stake in shares of Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

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.