Planet Fitness (NYSE:PLNT) Stock Rating Reaffirmed by DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Planet Fitness (NYSE:PLNTFree Report) in a research note released on Friday morning, Benzinga reports. The firm currently has a $62.00 price target on the stock. DA Davidson also issued estimates for Planet Fitness’ FY2025 earnings at $2.82 EPS.

A number of other research analysts also recently issued reports on PLNT. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a neutral rating to an overweight rating and lifted their price target for the stock from $68.00 to $78.00 in a research note on Tuesday, May 14th. Jefferies Financial Group raised shares of Planet Fitness from a hold rating to a buy rating and lifted their price objective for the stock from $62.00 to $100.00 in a research report on Monday, June 10th. Royal Bank of Canada dropped their target price on Planet Fitness from $80.00 to $77.00 and set an outperform rating on the stock in a report on Friday, May 10th. Raymond James lifted their price target on Planet Fitness from $75.00 to $80.00 and gave the stock a strong-buy rating in a report on Friday, May 10th. Finally, Morgan Stanley reiterated an overweight rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness has a consensus rating of Moderate Buy and a consensus price target of $75.00.

Read Our Latest Report on Planet Fitness

Planet Fitness Stock Performance

Shares of PLNT stock opened at $71.96 on Friday. The stock has a market capitalization of $6.35 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $75.86. The company has a 50 day moving average price of $63.69 and a 200 day moving average price of $66.23.

Planet Fitness (NYSE:PLNTGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, research analysts forecast that Planet Fitness will post 2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLNT. Cadian Capital Management LP increased its position in Planet Fitness by 164.7% in the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after acquiring an additional 2,516,007 shares during the period. Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness during the fourth quarter worth $182,500,000. Greenvale Capital LLP grew its position in Planet Fitness by 291.3% in the 4th quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock valued at $127,103,000 after buying an additional 1,296,140 shares during the last quarter. Norges Bank acquired a new position in Planet Fitness in the 4th quarter valued at $65,674,000. Finally, Steadfast Capital Management LP raised its position in Planet Fitness by 97.7% during the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after buying an additional 682,863 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

(Get Free Report)

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.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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