Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has been assigned an average rating of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $101.17.
A number of research analysts recently commented on PLNT shares. Cowen raised shares of Planet Fitness to a “hold” rating and increased their target price for the company from $100.00 to $110.00 in a research report on Wednesday, January 12th. Morgan Stanley increased their target price on shares of Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, January 12th. StockNews.com started coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet downgraded shares of Planet Fitness from a “b-” rating to a “c” rating in a research report on Thursday, February 24th. Finally, Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, March 2nd.
Several hedge funds have recently added to or reduced their stakes in PLNT. Soroban Capital Partners LP lifted its stake in shares of Planet Fitness by 938.3% in the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock worth $251,049,000 after acquiring an additional 2,888,217 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Planet Fitness by 225.3% in the fourth quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after purchasing an additional 1,108,100 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Planet Fitness by 79.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares during the period. Norges Bank acquired a new stake in shares of Planet Fitness in the fourth quarter valued at about $73,431,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Planet Fitness by 37.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after purchasing an additional 748,189 shares during the period. Institutional investors own 98.33% of the company’s stock.
Shares of NYSE:PLNT opened at $86.83 on Wednesday. Planet Fitness has a 52 week low of $67.89 and a 52 week high of $99.60. The company’s 50 day moving average is $85.72 and its two-hundred day moving average is $85.97. The company has a market cap of $7.90 billion, a PE ratio of 166.98, a P/E/G ratio of 2.83 and a beta of 1.19.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. The firm had revenue of $183.60 million for the quarter, compared to the consensus estimate of $179.03 million. Planet Fitness had a net margin of 7.29% and a negative return on equity of 10.63%. The company’s revenue was up 37.2% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. As a group, research analysts expect that Planet Fitness will post 1.52 earnings per share for the current fiscal year.
About Planet Fitness (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.
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