BMO Capital Markets Increases Planet Fitness (NYSE:PLNT) Price Target to $110.00

Planet Fitness (NYSE:PLNT - Get Free Report) had its target price lifted by equities researchers at BMO Capital Markets from $100.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 14.83% from the company's previous close.

A number of other brokerages have also issued reports on PLNT. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They set a "buy" rating and a $120.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. DA Davidson reiterated a "neutral" rating and issued a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Macquarie reduced their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, thirteen 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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Planet Fitness Stock Down 0.8 %

PLNT traded down $0.81 on Monday, hitting $95.80. 1,488,875 shares of the company traded hands, compared to its average volume of 1,454,251. The company has a 50 day moving average of $100.06 and a 200-day moving average of $95.02. Planet Fitness has a 12-month low of $57.64 and a 12-month high of $110.00. The stock has a market capitalization of $8.11 billion, a PE ratio of 51.50, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million during the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company's quarterly revenue was up 19.4% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness will post 2.51 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently bought and sold shares of PLNT. UMB Bank n.a. boosted its stake in shares of Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $39,000. CoreCap Advisors LLC grew its holdings in shares of Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after buying an additional 490 shares during the last quarter. Institutional investors and hedge funds 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.