Macquarie Reaffirms Neutral Rating for Planet Fitness (NYSE:PLNT)

Planet Fitness (NYSE:PLNT)‘s stock had its “neutral” rating restated by equities research analysts at Macquarie in a research note issued to investors on Friday, Marketbeat reports. They presently have a $99.00 price target on the stock, up from their previous price target of $91.00. Macquarie’s price target would indicate a potential upside of 5.20% from the stock’s previous close.

A number of other research analysts have also issued reports on PLNT. Stifel Nicolaus raised their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Bank of America lifted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. Finally, Robert W. Baird upped their price target on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday. Five research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.88.

Planet Fitness Stock Performance

Shares of PLNT opened at $94.11 on Friday. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.64 and a beta of 1.49. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $98.59. The stock has a fifty day moving average of $81.47 and a 200-day moving average of $74.53.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. As a group, equities analysts forecast that Planet Fitness will post 2.43 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after buying an additional 316 shares during the period. LRI Investments LLC lifted its holdings in shares of 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. Quarry LP increased its stake in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares during the last quarter. Finally, Dnca Finance bought a new position in shares of Planet Fitness in the second quarter valued at $82,000. 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.