Royal Bank Of Canada Issues Positive Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price target hoisted by Royal Bank Of Canada from $110.00 to $115.00 in a research report report published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a research report on Monday, September 15th. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Stifel Nicolaus set a $125.00 price target on shares of Planet Fitness in a research note on Thursday. Finally, UBS Group initiated coverage on shares of Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.31.

Planet Fitness Stock Performance

Shares of PLNT traded up $2.80 during trading hours on Friday, hitting $106.04. 2,138,259 shares of the company were exchanged, compared to its average volume of 1,515,808. The company has a market cap of $8.93 billion, a PE ratio of 43.28, a PEG ratio of 2.30 and a beta of 1.37. The firm’s 50 day moving average is $98.66 and its 200-day moving average is $102.72. Planet Fitness has a 52 week low of $87.72 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same period last year, the business earned $0.64 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities analysts forecast that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds have recently added to or reduced their stakes in PLNT. T. Rowe Price Investment Management Inc. increased its position in Planet Fitness by 6.3% in the 1st 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after purchasing an additional 62,716 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Planet Fitness by 20.0% in the third 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 raised its position in Planet Fitness by 62.7% in 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 last quarter. Finally, Invesco Ltd. raised its position in Planet Fitness by 15.0% in 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 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.