Planet Fitness, Inc. (NYSE:PLNT) Receives $77.64 Consensus PT from Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $77.64.

PLNT has been the subject of several recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a report on Friday, June 14th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Royal Bank of Canada reduced their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Raymond James raised their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a report on Friday, June 14th.

Planet Fitness Trading Up 0.6 %

Planet Fitness stock opened at $73.94 on Friday. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86. The stock has a 50 day moving average of $66.86 and a two-hundred day moving average of $66.64. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 2.47 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Planet Fitness will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of PLNT. Mariner LLC increased its position in Planet Fitness by 7.9% during the third quarter. Mariner LLC now owns 34,633 shares of the company’s stock worth $1,703,000 after buying an additional 2,537 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock worth $1,841,000 after buying an additional 190 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Planet Fitness during the third quarter worth $381,000. Schonfeld Strategic Advisors LLC grew its position in shares of Planet Fitness by 259.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 269,763 shares of the company’s stock valued at $13,267,000 after purchasing an additional 194,689 shares during the period. Finally, Stansberry Asset Management LLC purchased a new stake in shares of Planet Fitness in the third quarter valued at $873,000. 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.