Macquarie Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price target decreased by analysts at Macquarie from $99.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s target price suggests a potential upside of 2.70% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Guggenheim restated a “buy” rating and set a $105.00 target price on shares of Planet Fitness in a research report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday. DA Davidson reiterated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Raymond James raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Planet Fitness Price Performance

Shares of PLNT stock opened at $92.50 on Thursday. Planet Fitness has a one year low of $54.35 and a one year high of $110.00. The company’s fifty day moving average price is $102.28 and its 200-day moving average price is $92.23. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last posted 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. The business had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Equities research analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after buying an additional 16,503 shares during the period. State Street Corp lifted its holdings in shares of Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Planet Fitness during the 4th quarter worth about $1,088,000. Y Intercept Hong Kong Ltd bought a new position in Planet Fitness during the 3rd quarter valued at about $604,000. Finally, Artemis Investment Management LLP purchased a new stake in Planet Fitness in the 4th quarter worth about $18,767,000. Institutional investors own 95.53% of the company’s stock.

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.