BMO Capital Markets Boosts Planet Fitness (NYSE:PLNT) Price Target to $110.00

Planet Fitness (NYSE:PLNT) had its price target upped by investment analysts at BMO Capital Markets from $100.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 14.37% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target for the company. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Roth Mkm reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Planet Fitness Trading Down 3.0 %

Shares of NYSE:PLNT opened at $96.18 on Monday. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. Planet Fitness has a 12 month low of $57.64 and a 12 month high of $110.00. The company has a 50-day moving average price of $100.46 and a 200-day moving average price of $94.82.

Planet Fitness (NYSE:PLNT) last released 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 business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the company posted $0.60 EPS. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, research analysts forecast that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LLC raised its holdings in Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after acquiring an additional 94 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after purchasing an additional 135 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after buying an additional 161 shares during the last quarter. 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.