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  • Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of “Buy” by Brokerages
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Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of “Buy” by Brokerages

By Melody G. Gillette 3 years ago

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Planet Fitness logoShares 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.

See Also

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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