Planet Fitness (NYSE:PLNT – Get Rating) ‘s price target was raised by stock analysts at DA Davidson from $90.00 to $99.00 in a research report issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 37.02% from the company’s current price.
Several other equities analysts have also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Cowen dropped their target price on shares of Planet Fitness from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, October 25th. Stifel Nicolaus dropped their target price on shares of Planet Fitness from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, September 8th. StockNews.com started coverage on shares of Planet Fitness in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Cowen reduced their price objective on shares of Planet Fitness from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $88.46.
Planet Fitness stock rose 5.3%
Shares of Planet Fitness stock opened at $72.25 on Friday. Planet Fitness has a twelve month low of $54.15 and a twelve month high of $97.33. The company has a 50 day simple moving average of $62.82 and a two hundred day simple moving average of $69.50. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 86.01, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25.
Planet Fitness (NYSE:PLNT – Get Rating ) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Planet Fitness had a net margin of 8.28% and a negative return on equity of 24.38%. The business had revenue of $224.40 million for the quarter, compared to analysts’ expectations of $230.13 million. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue rose by 63.5% on a year-on-year basis. On average, sell-side analysts anticipate that Planet Fitness will post 1.53 earnings per share for the current fiscal year.
Institutional investors are weighing On Planet Fitness
Institutional investors have recently modified their holdings of the company. O Dell Group LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at $30,000. First Horizon Advisors Inc. raised its stake in shares of Planet Fitness by 290.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 581 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Planet Fitness by 58.4% in the 3rd quarter. Global Retirement Partners LLC now owns 852 shares of the company’s stock valued at $56,000 after purchasing an additional 314 shares during the last quarter. Ellevest Inc. raised its stake in shares of Planet Fitness by 1,098.8% in the 2nd quarter. Ellevest Inc. now owns 971 shares of the company’s stock valued at $66,000 after purchasing an additional 890 shares during the last quarter. Finally, Standard Family Office LLC raised its stake in shares of Planet Fitness by 1,147.1% in the 1st quarter. Standard Family Office LLC now owns 848 shares of the company’s stock valued at $72,000 after purchasing an additional 780 shares during the last quarter. 95.15% of the shares are owned by institutional investors.
Planet Fitness Company Profile
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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