DA Davidson Reaffirms Neutral Rating for Planet Fitness (NYSE:PLNT)

Planet Fitness (NYSE:PLNT – Get Free Report)‘s stock had its “neutral” rating reiterated by DA Davidson in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $62.00 price objective on the stock. DA Davidson’s price objective indicates a potential downside of 4.54% from the stock’s previous close.

A number of other brokerages have also commented on PLNT. JPMorgan Chase & Co. cut their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird increased their price objective on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $70.00 in a report on Friday. Finally, Royal Bank of Canada increased their price target on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.43.

Check Out Our Latest Stock Report on PLNT

Planet Fitness Stock Down 0.6 %

Planet Fitness stock opened at $64.95 on Thursday. The stock has a market cap of $5.73 billion, a PE ratio of 40.09, a P/E/G ratio of 1.97 and a beta of 1.37. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $75.86. The business’s 50-day moving average price is $61.54 and its two-hundred day moving average price is $65.29.

Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. As a group, analysts expect that Planet Fitness will post 2.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLNT. Vanguard Group Inc. boosted its stake in Planet Fitness by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $1,786,000. State Board of Administration of Florida Retirement System grew its holdings in Planet Fitness by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after buying an additional 3,860 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Planet Fitness by 4.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,696 shares of the company’s stock valued at $7,872,000 after buying an additional 5,535 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Planet Fitness by 8.4% during the 1st quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock valued at $851,000 after acquiring an additional 1,057 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

(Get Free Report)

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.

Further Reading

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