Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $100.17

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $101.44.

Several equities analysts have recently commented on PLNT shares. Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Stifel Nicolaus lowered their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price for the company. Roth Mkm reaffirmed 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLNT. FMR LLC grew its holdings in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Planet Fitness in the third quarter valued at approximately $1,990,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Planet Fitness by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company’s stock worth $1,255,000 after buying an additional 1,210 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Planet Fitness during the third quarter worth $200,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Planet Fitness in the 3rd quarter valued at $478,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Down 4.9 %

PLNT opened at $92.68 on Friday. The stock’s fifty day simple moving average is $99.51 and its 200 day simple moving average is $95.23. Planet Fitness has a 1-year low of $57.64 and a 1-year high of $110.00. The stock has a market cap of $7.85 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last posted its 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the company posted $0.60 EPS. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts forecast that Planet Fitness will post 2.51 earnings per share for the current year.

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.