Planet Fitness (NYSE:PLNT) Price Target Lowered to $82.00 at Stifel Nicolaus

Planet Fitness (NYSE:PLNT) had its price objective reduced by Stifel Nicolaus from $90.00 to $82.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential downside of 11.35% from the company’s previous close.

PLNT has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Guggenheim restated a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a report on Thursday. Roth Mkm restated a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday. DA Davidson restated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Raymond James raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Stock Performance

PLNT opened at $92.50 on Friday. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53. The company has a fifty day moving average of $102.15 and a 200 day moving average of $92.41. Planet Fitness has a fifty-two week low of $54.35 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data 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 net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the business earned $0.60 earnings per share. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts forecast that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Planet Fitness by 8.5% in 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 buying an additional 22,687 shares during the last quarter. Tidal Investments LLC boosted 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 stake in Planet Fitness by 177.9% in 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 in the last quarter. Redwood Investment Management LLC acquired a new stake in Planet Fitness in the 4th quarter worth approximately $1,427,000. Finally, ProShare Advisors LLC boosted its stake in Planet Fitness by 6.8% in the 4th quarter. ProShare Advisors LLC now owns 3,939 shares of the company’s stock worth $389,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.