Planet Fitness (NYSE:PLNT) Stock Rating Lowered by Stifel Nicolaus

Planet Fitness (NYSE:PLNTGet Free Report) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat.com reports. They currently have a $70.00 target price on the stock, down from their prior target price of $80.00. Stifel Nicolaus’ price objective would indicate a potential upside of 7.78% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. Piper Sandler boosted their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. lowered 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 target price on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.43.

Check Out Our Latest Research Report on PLNT

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $64.95 on Friday. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.12 and a beta of 1.37. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86. The business has a 50 day simple moving average of $61.54 and a 200 day simple moving average of $65.36.

Planet Fitness (NYSE:PLNTGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same period in the prior year, the company posted $0.41 earnings per share. Planet Fitness’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that Planet Fitness will post 2.41 EPS for the current year.

Institutional Trading of 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 holdings in Planet Fitness by 247.6% during the fourth 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. Fidelis Capital Partners LLC bought a new position in shares of Planet Fitness during the 1st quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the 4th quarter valued at $47,000. Covestor Ltd grew its position in Planet Fitness by 19.5% in the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 238 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% during the fourth 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. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

(Get Free Report)

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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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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