Planet Fitness (NYSE:PLNT) Price Target Lowered to $90.00 at DA Davidson

Posted by on May 14th, 2022

Planet Fitness (NYSE:PLNT – Get Rating) had its price objective cut by DA Davidson from $110.00 to $90.00 in a report published on Friday morning, The Fly reports. DA Davidson also issued estimates for Planet Fitness’ Q2 2022 earnings at $0.36 EPS.

A number of other brokerages have also recently commented on PLNT. Evercore ISI assumed coverage on Planet Fitness in a research note on Monday, March 14th. They issued an outperform rating and a $130.00 price objective for the company. Robert W. Baird cut their target price on Planet Fitness from $108.00 to $92.00 in a research report on Wednesday. Zacks Investment Research cut Planet Fitness from a hold rating to a strong sell rating and set a $70.00 target price on the stock. in a research report on Wednesday, March 2nd. Piper Sandler cut their target price on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday. Finally, BMO Capital Markets cut their target price on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of Buy and a consensus target price of $96.50.

Shares of PLNT traded up $2.09 during mid-day trading on Friday, reaching $72.59. The company had a trading volume of 1,102,064 shares, compared to its average volume of 854,905. Planet Fitness has a 52-week low of $67.39 and a 52-week high of $99.60. The stock has a market capitalization of $6.61 billion, a P/E ratio of 113.42, a PEG ratio of 2.30 and a beta of 1.16. The stock has a 50 day moving average of $81.68 and a two-hundred day moving average of $85.60.

Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The firm’s revenue was up 66.8% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. Analysts anticipate that Planet Fitness will post 1.54 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Planet Fitness by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 742,652 shares of the company’s stock valued at $62,740,000 after purchasing an additional 22,560 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Planet Fitness by 147.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 761,875 shares of the company’s stock worth $64,363,000 after buying an additional 454,133 shares in the last quarter. First Trust Advisors LP purchased a new position in Planet Fitness during the first quarter worth about $8,791,000. Federated Hermes Inc. grew its position in Planet Fitness by 2.8% during the first quarter. Federated Hermes Inc. now owns 2,000,228 shares of the company’s stock worth $168,979,000 after buying an additional 55,118 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Planet Fitness by 37.4% during the first quarter. Loomis Sayles & Co. L P now owns 382,959 shares of the company’s stock worth $32,352,000 after buying an additional 104,260 shares in the last quarter. Institutional investors 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.

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