Planet Fitness (NYSE:PLNT – Free Report) had its target price increased by Raymond James from $75.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a strong-buy rating on the stock.
Other analysts have also issued reports about the company. DA Davidson reissued a neutral rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Thursday, May 9th. Robert W. Baird boosted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an outperform rating in a report on Friday. StockNews.com raised shares of 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. Finally, Morgan Stanley restated an overweight rating and set a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $71.43.
Read Our Latest Analysis on Planet Fitness
Planet Fitness Price Performance
Planet Fitness stock opened at $65.56 on Friday. The firm’s 50-day moving average is $61.61 and its two-hundred day moving average is $65.52. The stock has a market capitalization of $5.78 billion, a P/E ratio of 37.68, a P/E/G ratio of 2.20 and a beta of 1.37. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.53 EPS 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 firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same period in the previous year, the company earned $0.41 EPS. Planet Fitness’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Planet Fitness will post 2.41 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Cadian Capital Management LP increased its stake in Planet Fitness by 164.7% during the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock worth $198,860,000 after buying an additional 2,516,007 shares during the period. Dorsal Capital Management LP purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $182,500,000. Greenvale Capital LLP lifted its stake in shares of Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after acquiring an additional 1,296,140 shares in the last quarter. Norges Bank purchased a new position in Planet Fitness in the fourth quarter valued at about $65,674,000. Finally, Hawk Ridge Capital Management LP acquired a new stake in Planet Fitness during the 3rd quarter valued at approximately $29,476,000. 95.53% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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