Planet Fitness, Inc. (NYSE:PLNT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $71.00.

Several research analysts have weighed in on the company. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research report on Monday, February 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Royal Bank of Canada upped their price target on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Stifel Nicolaus dropped their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th.

Planet Fitness Stock Down 1.2 %

Shares of NYSE:PLNT opened at $58.65 on Friday. The business’s 50 day moving average is $63.00 and its 200 day moving average is $64.18. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $84.48. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.22 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts expect that Planet Fitness will post 2.48 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Planet Fitness in the 4th quarter worth about $25,000. Allworth Financial LP increased its stake in Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. International Assets Investment Management LLC bought a new position in Planet Fitness in the 3rd quarter worth about $27,000. Rockefeller Capital Management L.P. increased its stake in Planet Fitness by 93.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock worth $35,000 after acquiring an additional 220 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Planet Fitness in the 4th quarter worth about $47,000. 95.53% of the stock is currently 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.