Planet Fitness (NYSE:PLNT) PT Raised to $92.00

Planet Fitness (NYSE:PLNT) had its price target boosted by equities research analysts at Robert W. Baird from $88.00 to $92.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 18.50% from the stock’s previous close.

A number of other research firms also recently issued reports on PLNT. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $100.00 in a research report on Monday, June 10th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $70.00 in a report on Friday, May 10th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.43.

Planet Fitness Stock Up 1.6 %

Shares of Planet Fitness stock traded up $1.24 during trading on Wednesday, reaching $77.64. The company’s stock had a trading volume of 943,460 shares, compared to its average volume of 1,676,970. The business has a 50 day moving average price of $72.27 and a 200-day moving average price of $66.82. The company has a market capitalization of $6.85 billion, a P/E ratio of 44.73, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $79.10.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. The company had revenue of $300.94 million for the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Research analysts predict that Planet Fitness will post 2.43 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness during the 4th quarter worth $182,500,000. Greenvale Capital LLP raised its holdings in shares of Planet Fitness by 291.3% in the 4th quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares during the period. Norges Bank purchased a new stake in Planet Fitness during the fourth quarter worth approximately $65,674,000. Steadfast Capital Management LP boosted its position in Planet Fitness by 97.7% during the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after purchasing an additional 682,863 shares during the period. Finally, Junto Capital Management LP grew its stake in shares of Planet Fitness by 255.4% in the fourth quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock valued at $55,256,000 after buying an additional 543,942 shares in the last quarter. 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.