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

Planet Fitness, Inc. (NYSE:PLNT) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $71.00.

PLNT has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLNT. Quarry LP bought a new position in shares of Planet Fitness in the fourth quarter worth $25,000. Allworth Financial LP increased its position in shares of Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the period. International Assets Investment Management LLC bought a new position in shares of Planet Fitness in the third quarter worth $27,000. Rockefeller Capital Management L.P. increased its position in shares of Planet Fitness by 93.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock worth $35,000 after purchasing an additional 220 shares during the period. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Planet Fitness in the fourth quarter worth $47,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

NYSE PLNT opened at $58.65 on Friday. Planet Fitness has a 52-week low of $44.13 and a 52-week high of $84.48. The business has a 50 day simple moving average of $63.00 and a 200 day simple moving average of $64.18. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.22 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The business’s revenue was up 1.4% on a year-over-year basis. On average, analysts predict that Planet Fitness will post 2.48 EPS for the current year.

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.