Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $70.21

Shares of Planet Fitness, Inc. (NYSE:PLNTGet Free Report) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $71.43.

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James boosted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th.

Read Our Latest Stock Report on Planet Fitness

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $65.56 on Thursday. The stock has a market capitalization of $5.78 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 2.20 and a beta of 1.37. The company’s 50-day moving average price is $61.61 and its two-hundred day moving average price is $65.52. Planet Fitness has a one year low of $44.13 and a one year high of $75.86.

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

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its position in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness during the 1st quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Planet Fitness during the 4th quarter worth approximately $47,000. Covestor Ltd raised its position in shares of 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 buying 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% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds 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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