Planet Fitness’ (PLNT) Buy Rating Reiterated at Roth Mkm

Roth Mkm reissued their buy rating on shares of Planet Fitness (NYSE:PLNT) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $115.00 price objective on the stock, up from their prior price objective of $110.00.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley increased their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Robert W. Baird increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Piper Sandler increased their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. 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. According to MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Price Performance

Shares of PLNT stock opened at $92.50 on Wednesday. The business’s 50 day simple moving average is $102.28 and its 200 day simple moving average is $92.23. Planet Fitness has a one year low of $54.35 and a one year high of $110.00. The stock has a market capitalization of $7.82 billion, a PE ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53.

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

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently bought and sold shares of PLNT. T. Rowe Price Investment Management Inc. raised its position in Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after buying an additional 2,570,826 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $130,376,000. Norges Bank purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $100,009,000. FMR LLC increased its position in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Finally, Nomura Holdings Inc. increased its position in shares of Planet Fitness by 103.4% during the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company’s stock valued at $1,104,000 after purchasing an additional 340,370 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.