Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $71.00.

A number of brokerages have commented on PLNT. Piper Sandler boosted their target price on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Stifel Nicolaus decreased their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Finally, Morgan Stanley decreased their price target on Planet Fitness from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently modified their holdings of PLNT. Quarry LP acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $25,000. Allworth Financial LP increased its holdings in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Planet Fitness during the 3rd quarter valued at $27,000. Rockefeller Capital Management L.P. increased its holdings in Planet Fitness by 93.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after purchasing an additional 220 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness during the 4th quarter valued at $47,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Trading Up 1.1 %

NYSE:PLNT opened at $59.05 on Wednesday. The business’s fifty day moving average price is $65.81 and its 200 day moving average price is $62.90. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $84.48. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 1.20 and a beta of 1.40.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts forecast that Planet Fitness will post 2.48 earnings per share for the current year.

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.