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

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Moderate Buy” by the seventeen research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $99.00.

A number of equities research analysts recently issued reports on PLNT shares. Roth Mkm reissued a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Guggenheim reissued a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research note on Thursday, February 27th. Stifel Nicolaus decreased their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Macquarie reduced their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th.

Planet Fitness Trading Up 3.3 %

NYSE:PLNT opened at $97.41 on Wednesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 52.37, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The business’s 50-day moving average is $101.63 and its 200 day moving average is $93.06.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, research analysts forecast that Planet Fitness will post 2.51 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in Planet Fitness in the fourth quarter valued at $39,000. CoreCap Advisors LLC increased its holdings in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after buying an additional 450 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after buying an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Planet Fitness during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

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.