Planet Fitness (NYSE:PLNT) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Planet Fitness (NYSE:PLNT) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $120.00 target price on the stock.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus lowered their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Guggenheim reaffirmed a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Macquarie decreased their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler upped their target price on 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, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Trading Up 2.5 %

NYSE:PLNT opened at $95.56 on Thursday. The firm has a market cap of $8.09 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The stock has a fifty day moving average price of $101.07 and a 200 day moving average price of $93.42. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. Equities analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Planet Fitness by 8.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,457 shares of the company’s stock worth $28,717,000 after buying an additional 22,687 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Planet Fitness by 1.3% during the 4th quarter. Tidal Investments LLC now owns 29,340 shares of the company’s stock worth $2,901,000 after buying an additional 383 shares in the last quarter. State of Wyoming raised its stake in shares of Planet Fitness by 177.9% during the 4th quarter. State of Wyoming now owns 7,423 shares of the company’s stock worth $734,000 after buying an additional 4,752 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of Planet Fitness during the 4th quarter worth approximately $1,427,000. Finally, ProShare Advisors LLC raised its stake in shares of Planet Fitness by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 3,939 shares of the company’s stock worth $389,000 after buying an additional 252 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.