Planet Fitness, Inc. (NYSE:PLNT) Receives $99.00 Average Target Price from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $99.00.

A number of research firms have recently issued reports on PLNT. Roth Mkm reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Stifel Nicolaus reduced their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Guggenheim reiterated a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th.

Planet Fitness Stock Up 3.3 %

NYSE PLNT opened at $97.41 on Wednesday. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $110.00. The business’s 50-day moving average price is $101.63 and its 200 day moving average price is $93.06. The firm has a market cap of $8.24 billion, a P/E ratio of 52.37, a P/E/G ratio of 2.45 and a beta of 1.54.

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

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd acquired a new stake in Planet Fitness during the fourth quarter valued at approximately $39,000. CoreCap Advisors LLC lifted its stake in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Planet Fitness during the fourth quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted 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 valued at $53,000 after purchasing an additional 490 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

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.