Planet Fitness, Inc. (NYSE:PLNT) Given Average Recommendation of “Moderate Buy” by Analysts

Planet Fitness, Inc. (NYSE:PLNT) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $77.64.

Several research analysts have commented on the company. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and raised their price target for the company from $68.00 to $78.00 in a research note on Tuesday, May 14th. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Robert W. Baird raised their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Piper Sandler boosted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th.

Planet Fitness Trading Up 0.4 %

NYSE:PLNT opened at $74.99 on Tuesday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.49. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $79.09. The stock has a fifty day simple moving average of $70.90 and a 200-day simple moving average of $66.89.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, equities research analysts predict that Planet Fitness will post 2.43 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after buying an additional 255 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness during the first quarter worth about $27,000. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Planet Fitness during the 4th quarter worth approximately $47,000. Hedge funds and other 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.