Planet Fitness (NYSE:PLNT – Free Report) had its price objective decreased by Royal Bank of Canada from $80.00 to $77.00 in a research report report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
Several other research analysts have also weighed in on PLNT. Robert W. Baird lifted their price objective on Planet Fitness from $80.00 to $88.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on Planet Fitness from $75.00 to $72.00 and set a neutral rating for the company in a research report on Monday, February 26th. StockNews.com raised Planet Fitness from a sell rating to a hold rating in a research report on Wednesday, May 8th. DA Davidson reissued a neutral rating and issued a $62.00 price objective on shares of Planet Fitness in a research report on Thursday, May 9th. Finally, Stifel Nicolaus lowered Planet Fitness from a buy rating to a hold rating and lowered their price objective for the stock from $80.00 to $70.00 in a research report on Friday. Seven 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 stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $71.43.
Read Our Latest Analysis on PLNT
Planet Fitness Stock Up 0.9 %
Shares of NYSE:PLNT opened at $65.56 on Friday. The firm has a market cap 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. The business has a fifty day simple moving average of $61.61 and a 200 day simple moving average of $65.52.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the company earned $0.41 EPS. Planet Fitness’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Planet Fitness will post 2.41 EPS for the current year.
Hedge Funds Weigh In On Planet Fitness
Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Planet Fitness during the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Planet Fitness during the 4th quarter valued at about $47,000. Covestor Ltd boosted its stake in Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after purchasing an additional 238 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in 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 purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds 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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