Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $71.00.

PLNT has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Finally, Piper Sandler upped their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th.

Planet Fitness Stock Performance

Shares of PLNT opened at $61.29 on Friday. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $84.48. The business has a 50-day moving average of $63.70 and a 200 day moving average of $63.93. The firm has a market cap of $5.40 billion, a P/E ratio of 37.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. During the same period last year, the firm earned $0.53 EPS. Planet Fitness’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts predict that Planet Fitness will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Hedge funds have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $25,000. Allworth Financial LP boosted its holdings in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Planet Fitness in the third quarter worth $27,000. Rockefeller Capital Management L.P. increased its holdings in shares of Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after acquiring an additional 220 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness in the 4th quarter worth about $47,000. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.