Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Analysts

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.91.

Several research firms have commented on PLNT. Piper Sandler cut their price target on Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. Evercore ISI began coverage on Planet Fitness in a report on Monday, March 14th. They issued an “outperform” rating and a $130.00 price target for the company. DA Davidson cut their price target on Planet Fitness from $110.00 to $90.00 in a report on Friday, May 13th. Robert W. Baird cut their price target on Planet Fitness from $108.00 to $92.00 in a report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Wednesday, May 11th.

NYSE PLNT opened at $69.29 on Monday. Planet Fitness has a twelve month low of $61.11 and a twelve month high of $99.60. The stock has a market capitalization of $6.31 billion, a PE ratio of 108.27, a P/E/G ratio of 1.24 and a beta of 1.14. The stock has a 50-day simple moving average of $70.63 and a 200 day simple moving average of $80.97.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The company’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, sell-side analysts predict that Planet Fitness will post 1.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its position in Planet Fitness by 26.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 14,043 shares of the company’s stock worth $1,272,000 after acquiring an additional 2,913 shares during the last quarter. WCM Investment Management LLC grew its position in Planet Fitness by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 194,583 shares of the company’s stock worth $17,625,000 after acquiring an additional 16,531 shares during the last quarter. Loews Corp bought a new stake in Planet Fitness during the 4th quarter worth approximately $205,000. Raymond James & Associates boosted its position in Planet Fitness by 60.2% in the 4th quarter. Raymond James & Associates now owns 74,565 shares of the company’s stock valued at $6,754,000 after buying an additional 28,028 shares during the last quarter. Finally, PFS Investments Inc. boosted its position in Planet Fitness by 27.5% in the 4th quarter. PFS Investments Inc. now owns 27,815 shares of the company’s stock valued at $2,519,000 after buying an additional 5,999 shares during the last quarter. Institutional investors and hedge funds own 93.87% of the company’s stock.

Planet Fitness Company Profile (Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

Further Reading

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