Planet Fitness (NYSE:PLNT) Given a $126.00 Price Target by Canaccord Genuity Group Analysts

Planet Fitness (NYSE:PLNT) has been given a $126.00 price objective by equities researchers at Canaccord Genuity Group in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 20.05% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Roth Mkm reaffirmed a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Macquarie reissued a “neutral” rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.76.

Planet Fitness Trading Up 2.3%

PLNT stock traded up $2.34 during trading hours on Thursday, hitting $104.96. 421,211 shares of the stock traded hands, compared to its average volume of 1,373,364. The stock has a 50-day simple moving average of $99.14 and a 200 day simple moving average of $99.77. The company has a market cap of $8.84 billion, a P/E ratio of 56.41, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness has a one year low of $68.75 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently made changes to their positions in the stock. 1248 Management LLC purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $809,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Planet Fitness by 38.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 401,625 shares of the company’s stock valued at $38,801,000 after acquiring an additional 111,168 shares in the last quarter. Woodline Partners LP bought a new position in shares of Planet Fitness during the first quarter valued at approximately $7,490,000. Empowered Funds LLC bought a new position in shares of Planet Fitness during the first quarter valued at approximately $1,891,000. Finally, United Services Automobile Association bought a new position in shares of Planet Fitness during the first quarter valued at approximately $528,000. Hedge funds and other 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.