Shares of Planet Fitness, Inc. (NYSE:PLNT – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $77.64.
Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Raymond James raised their target price on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Friday, May 10th. Robert W. Baird boosted their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Stifel Nicolaus cut shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th.
Get Our Latest Stock Report on Planet Fitness
Planet Fitness Stock Performance
Shares of PLNT stock opened at $76.38 on Tuesday. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $79.09. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 2.57 and a beta of 1.49. The stock’s 50-day simple moving average is $70.11 and its 200-day simple moving average is $66.78.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, equities analysts forecast that Planet Fitness will post 2.43 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. raised its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after purchasing an additional 174 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Planet Fitness by 0.3% during the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after purchasing an additional 179 shares during the period. Teacher Retirement System of Texas increased its position in shares of Planet Fitness by 2.8% during the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock worth $494,000 after purchasing an additional 182 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the period. 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.
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