Planet Fitness’ (PLNT) Buy Rating Reiterated at Guggenheim

Planet Fitness (NYSE:PLNT)‘s stock had its “buy” rating reiterated by equities researchers at Guggenheim in a research note issued on Thursday,Benzinga reports. They currently have a $105.00 price objective on the stock. Guggenheim’s target price points to a potential upside of 14.22% from the stock’s current price.

Several other analysts have also recently commented on the stock. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Roth Mkm reiterated a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday. Robert W. Baird increased their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Macquarie restated a “neutral” rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Finally, Raymond James lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.71.

Planet Fitness Trading Up 1.4 %

Shares of PLNT stock traded up $1.30 during mid-day trading on Thursday, reaching $91.92. The stock had a trading volume of 517,588 shares, compared to its average volume of 1,584,593. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $110.00. The stock’s 50-day moving average price is $102.44 and its two-hundred day moving average price is $92.24. The firm has a market capitalization of $7.78 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

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

Hedge Funds Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Planet Fitness by 8.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,457 shares of the company’s stock worth $28,717,000 after acquiring an additional 22,687 shares during the last quarter. Tidal Investments LLC lifted its stake in Planet Fitness by 1.3% in the 4th quarter. Tidal Investments LLC now owns 29,340 shares of the company’s stock worth $2,901,000 after purchasing an additional 383 shares in the last quarter. State of Wyoming boosted its holdings in shares of Planet Fitness by 177.9% during the 4th quarter. State of Wyoming now owns 7,423 shares of the company’s stock worth $734,000 after purchasing an additional 4,752 shares during the last quarter. Redwood Investment Management LLC acquired a new position in Planet Fitness in the fourth quarter valued at approximately $1,427,000. Finally, ProShare Advisors LLC lifted its holdings in Planet Fitness by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 3,939 shares of the company’s stock valued at $389,000 after acquiring an additional 252 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.