Royal Bank Of Canada Boosts Planet Fitness (NYSE:PLNT) Price Target to $115.00

Planet Fitness (NYSE:PLNT) had its price objective lifted by equities researchers at Royal Bank Of Canada from $110.00 to $115.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 8.45% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. Morgan Stanley upped their price target on shares of Planet Fitness from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. UBS Group began coverage on Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Stifel Nicolaus set a $125.00 target price on Planet Fitness in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $113.71.

Planet Fitness Stock Up 2.7%

Shares of PLNT traded up $2.80 on Friday, reaching $106.04. The stock had a trading volume of 1,489,644 shares, compared to its average volume of 1,446,819. Planet Fitness has a twelve month low of $87.72 and a twelve month high of $114.47. The firm has a market capitalization of $8.93 billion, a PE ratio of 47.13, a PEG ratio of 2.11 and a beta of 1.37. The firm has a 50-day moving average of $98.63 and a 200 day moving average of $102.63.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $444.02 million for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.Planet Fitness’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

A number of institutional investors and hedge funds have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 6.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after acquiring an additional 496,047 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after purchasing an additional 62,716 shares during the period. Ninety One UK Ltd lifted its stake in shares of Planet Fitness by 20.0% in the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after purchasing an additional 577,637 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after purchasing an additional 1,268,262 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Planet Fitness by 15.0% during the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.