Royal Bank of Canada Reaffirms Outperform Rating for Planet Fitness (NYSE:PLNT)

Royal Bank of Canada restated their outperform rating on shares of Planet Fitness (NYSE:PLNT) in a research note published on Monday,Benzinga reports. Royal Bank of Canada currently has a $120.00 price target on the stock.

A number of other analysts have also issued reports on the company. Raymond James boosted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Morgan Stanley raised their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Macquarie reaffirmed a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness Trading Up 2.8 %

PLNT opened at $99.63 on Monday. The company has a 50 day moving average of $102.82 and a 200 day moving average of $92.17. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The company has a market cap of $8.43 billion, a PE ratio of 53.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

Institutional Trading of Planet Fitness

Several large investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd bought a new position in shares of Planet Fitness during the fourth quarter valued at $39,000. CoreCap Advisors LLC boosted its holdings in shares of Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Planet Fitness in the fourth quarter worth approximately $57,000. 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.