Planet Fitness, Inc. (NYSE:PLNT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $100.17.

Several analysts recently commented on the stock. Guggenheim restated a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a report on Thursday, February 27th. Macquarie lowered their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th.

Planet Fitness Stock Down 3.0 %

Shares of Planet Fitness stock opened at $96.18 on Friday. The business has a fifty day simple moving average of $100.46 and a 200-day simple moving average of $94.73. Planet Fitness has a fifty-two week low of $57.64 and a fifty-two week high of $110.00. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings 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 buying an additional 157 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Planet Fitness in the 4th quarter valued at $39,000. CoreCap Advisors LLC grew its holdings in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after purchasing an additional 450 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $51,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake 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 worth $53,000 after buying an additional 490 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

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.