Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $105.76

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $105.76.

A number of equities research analysts have commented on PLNT shares. Roth Mkm restated a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Canaccord Genuity Group raised their price target on shares of Planet Fitness from $120.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Finally, Macquarie restated a “neutral” rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the last quarter. Invesco Ltd. boosted its holdings in Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock worth $213,618,000 after purchasing an additional 1,728,407 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after purchasing an additional 1,268,262 shares during the last quarter. Norges Bank purchased a new position in Planet Fitness during the fourth quarter worth about $100,009,000. Finally, Ninety One UK Ltd boosted its holdings in Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock worth $205,265,000 after purchasing an additional 806,023 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $102.59 on Friday. The stock’s 50-day moving average is $99.14 and its 200 day moving average is $99.77. Planet Fitness has a one year low of $68.75 and a one year high of $110.00. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 55.16, a PEG ratio of 2.45 and a beta of 1.33.

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

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.