Planet Fitness (NYSE:PLNT) Given New $95.00 Price Target at Macquarie

Planet Fitness (NYSE:PLNT) had its price target lowered by Macquarie from $99.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

PLNT has been the topic of several other reports. Raymond James upped their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $99.47.

Planet Fitness Price Performance

NYSE:PLNT opened at $91.56 on Thursday. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 2.45 and a beta of 1.53. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $110.00. The stock’s 50 day simple moving average is $102.28 and its two-hundred day simple moving average is $92.23.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, analysts anticipate that Planet Fitness will post 2.51 EPS for the current year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently bought and sold shares of PLNT. Creative Planning increased its stake in Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Planet Fitness by 202.3% during the third quarter. Assenagon Asset Management S.A. now owns 45,928 shares of the company’s stock valued at $3,730,000 after buying an additional 30,736 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Planet Fitness by 3.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,825 shares of the company’s stock valued at $797,000 after acquiring an additional 310 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Planet Fitness in the 3rd quarter worth $13,592,000. Finally, Verdence Capital Advisors LLC lifted its position in Planet Fitness by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after acquiring an additional 132 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.