Stifel Nicolaus cut shares of Planet Fitness (NYSE:PLNT – Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat reports. They currently have $70.00 price objective on the stock, down from their prior price objective of $80.00.
Other research analysts also recently issued reports about the company. StockNews.com upgraded Planet Fitness from a sell rating to a hold rating in a research note on Wednesday, May 8th. Piper Sandler boosted their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an overweight rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. reduced their target price on shares of Planet Fitness from $75.00 to $72.00 and set a neutral rating for the company in a research note on Monday, February 26th. DA Davidson reiterated a neutral rating and set a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Finally, Royal Bank of Canada raised their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $71.43.
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Planet Fitness Price Performance
Shares of NYSE:PLNT opened at $64.95 on Friday. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $75.86. The stock has a market cap of $5.73 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.12 and a beta of 1.37. The firm has a fifty day moving average price of $61.54 and a 200 day moving average price of $65.44.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Planet Fitness will post 2.41 EPS for the current fiscal year.
Institutional Investors Weigh In On Planet Fitness
A number of institutional investors and hedge funds have recently modified their holdings of PLNT. Allworth Financial LP raised its holdings in Planet Fitness by 247.6% during 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 last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Planet Fitness in the first quarter valued at $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Planet Fitness during the 4th quarter worth $47,000. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
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.
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