Planet Fitness (NYSE:PLNT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Planet Fitness (NYSE:PLNT) had its price target upped by stock analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 5.57% from the stock’s current price.

A number of other equities research analysts have also weighed in on PLNT. Morgan Stanley lifted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Macquarie reissued a “neutral” rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday. Robert W. Baird raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price target on Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.81.

Planet Fitness Price Performance

Shares of PLNT stock opened at $95.31 on Friday. The business has a 50-day moving average of $81.75 and a 200 day moving average of $74.88. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $98.59. The stock has a market capitalization of $8.12 billion, a PE ratio of 51.24, a P/E/G ratio of 2.84 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Planet Fitness will post 2.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after buying an additional 316 shares during the period. LRI Investments LLC raised its position in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. V Square Quantitative Management LLC lifted its stake in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Quarry LP boosted its position in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance bought a new position in shares of Planet Fitness during the second quarter valued at approximately $82,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.