Planet Fitness’ (PLNT) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Planet Fitness (NYSE:PLNT) in a report published on Thursday,Benzinga reports. The firm currently has a $105.00 price target on the stock.

PLNT has been the subject of several other reports. Piper Sandler raised their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Raymond James raised their target price on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.47.

Planet Fitness Stock Up 1.0 %

Planet Fitness stock opened at $91.56 on Thursday. The company has a market capitalization of $7.75 billion, a P/E ratio of 49.22, a P/E/G ratio of 2.45 and a beta of 1.53. The firm has a 50 day moving average price of $102.28 and a 200-day moving average price of $92.23. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Several hedge funds have recently added to or reduced their stakes in PLNT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Planet Fitness by 8.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,457 shares of the company’s stock valued at $28,717,000 after buying an additional 22,687 shares during the last quarter. Tidal Investments LLC boosted its holdings in Planet Fitness by 1.3% during the 4th quarter. Tidal Investments LLC now owns 29,340 shares of the company’s stock valued at $2,901,000 after acquiring an additional 383 shares during the period. State of Wyoming grew its position in Planet Fitness by 177.9% during the 4th quarter. State of Wyoming now owns 7,423 shares of the company’s stock worth $734,000 after acquiring an additional 4,752 shares during the last quarter. Redwood Investment Management LLC purchased a new position in Planet Fitness in the 4th quarter worth approximately $1,427,000. Finally, ProShare Advisors LLC lifted its position in Planet Fitness by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 3,939 shares of the company’s stock valued at $389,000 after purchasing an additional 252 shares during the last quarter. 95.53% of the stock is 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. 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.