Shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating ) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $90.23.
A number of equities research analysts have issued reports on PLNT shares. Guggenheim dropped their price target on Planet Fitness to $85.00 in a research note on Tuesday, November 1st. Stifel Nicolaus reduced their price objective on Planet Fitness from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, September 8th. Cowen boosted their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 16th. Piper Sandler upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $73.00 to $70.00 in a report on Tuesday, October 25th. Finally, DA Davidson boosted their price objective on Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a research report on Friday, November 11th.
Planet Fitness Stock Performance
Shares of NYSE:PLNT opened at $78.36 on Thursday. Planet Fitness has a fifty-two week low of $54.15 and a fifty-two week high of $97.33. The business has a 50 day simple moving average of $65.04 and a two hundred day simple moving average of $69.32. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 93.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.
Institutional inflows and outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its position in shares of Planet Fitness by 7.6% during the 1st quarter. Swiss National Bank now owns 197,085 shares of the company’s stock valued at $16,650,000 after acquiring an additional 13,900 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Planet Fitness during the 1st quarter valued at approximately $667,000. Xponance Inc. raised its stake in shares of Planet Fitness by 11.0% during the 2nd quarter. Xponance Inc. now owns 7,586 shares of the company’s stock valued at $516,000 after buying an additional 754 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Planet Fitness by 14.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,149,179 shares of the company’s stock valued at $78,155,000 after purchasing an additional 145,821 shares in the last quarter. Finally, AGF Investments Inc. raised its stake in shares of Planet Fitness by 24.6% during the 1st quarter. AGF Investments Inc. now owns 505,000 shares of the company’s stock valued at $42,662,000 after buying an additional 99,750 shares in the last quarter. 95.15% of the share is owned by institutional investors and hedge funds.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through franchised, corporate-owned stores and equipment segments. The Franchise segment engages in franchise business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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