Planet Fitness (NYSE:PLNT) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Planet Fitness (NYSE:PLNT) from a sell rating to a hold rating in a research report released on Tuesday morning.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their price objective on Planet Fitness from $75.00 to $72.00 and set a neutral rating for the company in a research report on Monday, February 26th. DA Davidson reaffirmed a neutral rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. Morgan Stanley reaffirmed an overweight rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. Stifel Nicolaus decreased their target price on Planet Fitness from $85.00 to $80.00 and set a buy rating for the company in a research report on Friday, February 23rd. Finally, Piper Sandler boosted their target price on Planet Fitness from $88.00 to $89.00 and gave the company an overweight rating in a research report on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $71.00.

Planet Fitness Trading Down 0.4 %

PLNT stock opened at $59.84 on Tuesday. The stock has a 50-day moving average price of $61.89 and a 200-day moving average price of $64.95. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $84.48. The firm has a market cap of $5.28 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 1.96 and a beta of 1.39.

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

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $47,000. CWM LLC boosted its stake in shares of Planet Fitness by 109.5% in the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $72,000 after buying an additional 763 shares during the last quarter. Covestor Ltd boosted its stake in shares of Planet Fitness by 19.5% in the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after buying an additional 238 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds 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.