Planet Fitness (NYSE:PLNT) Upgraded at TD Cowen

TD Cowen upgraded shares of Planet Fitness (NYSE:PLNT) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat reports. They currently have $92.00 target price on the stock, up from their previous target price of $66.00.

Several other analysts have also recently weighed in on PLNT. Royal Bank of Canada cut their price objective on Planet Fitness from $80.00 to $77.00 and set an outperform rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group raised Planet Fitness from a hold rating to a buy rating and lifted their price objective for the company from $62.00 to $100.00 in a research report on Monday, June 10th. StockNews.com upgraded shares of Planet Fitness from a sell rating to a hold rating in a report on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an outperform rating in a report on Friday, May 10th. Finally, Raymond James lifted their target price on shares of Planet Fitness from $75.00 to $80.00 and gave the company a strong-buy rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Planet Fitness currently has an average rating of Moderate Buy and an average price target of $77.64.

Planet Fitness Price Performance

NYSE PLNT opened at $74.21 on Monday. The stock has a market capitalization of $6.54 billion, a PE ratio of 42.65, a PEG ratio of 2.46 and a beta of 1.43. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $75.86. The business’s 50-day moving average is $65.20 and its 200 day moving average is $66.47.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. Planet Fitness’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, equities research analysts anticipate that Planet Fitness will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds have recently modified their holdings of the business. Cetera Advisors LLC grew its position in shares of Planet Fitness by 568.8% during the 1st quarter. Cetera Advisors LLC now owns 25,320 shares of the company’s stock valued at $1,586,000 after acquiring an additional 21,534 shares during the period. Cetera Investment Advisers boosted its holdings in Planet Fitness by 74.5% in the 1st quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock worth $3,676,000 after buying an additional 25,054 shares during the period. Virtu Financial LLC boosted its holdings in Planet Fitness by 72.2% in the 1st quarter. Virtu Financial LLC now owns 5,611 shares of the company’s stock worth $351,000 after buying an additional 2,352 shares during the period. Tidal Investments LLC boosted its holdings in Planet Fitness by 71.3% in the 1st quarter. Tidal Investments LLC now owns 4,941 shares of the company’s stock worth $309,000 after buying an additional 2,056 shares during the period. Finally, Ionic Capital Management LLC bought a new position in Planet Fitness in the 1st quarter worth $814,000. 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.