Planet Fitness, Inc. (NYSE:PLNT) Receives $100.17 Consensus Price Target from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $101.44.

PLNT has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a report on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Canaccord Genuity Group initiated coverage on Planet Fitness in a report on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target for the company. BMO Capital Markets increased their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently bought and sold shares of PLNT. Versant Capital Management Inc grew its stake in Planet Fitness by 436.5% in the first quarter. Versant Capital Management Inc now owns 1,089 shares of the company’s stock valued at $105,000 after acquiring an additional 886 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at approximately $265,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Planet Fitness by 8.5% during the 4th 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 purchasing an additional 22,687 shares in the last quarter. Tidal Investments LLC increased its stake in Planet Fitness by 1.3% during 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. Finally, State of Wyoming raised its holdings in 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 buying an additional 4,752 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $97.46 on Friday. Planet Fitness has a 52-week low of $57.64 and a 52-week high of $110.00. The business has a fifty day moving average of $99.75 and a two-hundred day moving average of $95.06. The stock has a market cap of $8.25 billion, a PE ratio of 52.40, a PEG ratio of 2.45 and a beta of 1.39.

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