Shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) have been given an average rating of “Buy” by the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $101.17.
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $88.00 to $90.00 in a research note on Friday, January 14th. StockNews.com assumed coverage on shares of Planet Fitness in a research note on Thursday, March 31st. They set a “hold” rating for the company. Cowen raised shares of Planet Fitness to a “hold” rating and lifted their price target for the company from $100.00 to $110.00 in a research note on Wednesday, January 12th. Evercore ISI initiated coverage on shares of Planet Fitness in a report on Monday, March 14th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, January 12th.
Shares of NYSE PLNT opened at $86.83 on Wednesday. The company has a market cap of $7.90 billion, a P/E ratio of 166.98, a PEG ratio of 2.83 and a beta of 1.19. Planet Fitness has a 1 year low of $67.89 and a 1 year high of $99.60. The firm has a 50-day simple moving average of $85.72 and a two-hundred day simple moving average of $85.97.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $183.60 million during 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 firm’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, research analysts predict that Planet Fitness will post 1.52 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Moors & Cabot Inc. acquired a new position in Planet Fitness during the third quarter valued at $26,000. Liberty Wealth Management LLC lifted its position in Planet Fitness by 388.6% during the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after purchasing an additional 272 shares during the period. Pinnacle Holdings LLC acquired a new position in Planet Fitness during the third quarter valued at $30,000. Lazard Asset Management LLC acquired a new position in Planet Fitness during the fourth quarter valued at $33,000. Finally, Manchester Capital Management LLC acquired a new position in Planet Fitness during the third quarter valued at $35,000. Institutional investors and hedge funds own 98.33% of the company’s stock.
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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