Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has earned a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $96.50.
Several research firms have commented on PLNT. Evercore ISI began 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. Robert W. Baird dropped their price objective on shares of Planet Fitness from $108.00 to $92.00 in a report on Wednesday, May 11th. StockNews.com assumed coverage on shares of Planet Fitness in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lowered their price target on shares of Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. Finally, BMO Capital Markets lowered their price target on shares of Planet Fitness from $96.00 to $88.00 in a report on Wednesday, May 11th.
Several institutional investors have recently modified their holdings of PLNT. Moors & Cabot Inc. bought a new position in shares of Planet Fitness in the third quarter worth approximately $26,000. Liberty Wealth Management LLC grew its holdings in shares of Planet Fitness by 388.6% in the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after purchasing an additional 272 shares during the last quarter. O Dell Group LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $30,000. Lazard Asset Management LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $33,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Planet Fitness by 29.7% in the fourth quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock worth $51,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $186.70 million during the quarter, compared to analyst estimates of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts forecast that Planet Fitness will post 1.54 EPS for the current fiscal year.
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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