Macquarie Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT - Get Free Report) had its price objective decreased by equities research analysts at Macquarie from $99.00 to $95.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Macquarie's price objective indicates a potential upside of 2.33% from the company's previous close.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Roth Mkm reissued a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $105.00 price target on shares of Planet Fitness in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

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Planet Fitness Stock Up 0.3 %

NYSE PLNT traded up $0.29 during trading hours on Thursday, hitting $92.84. 2,174,549 shares of the stock were exchanged, compared to its average volume of 1,656,426. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00. The stock has a 50-day moving average of $102.15 and a 200 day moving average of $92.50. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating 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 period last year, the firm earned $0.60 EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts expect that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Trading of Planet Fitness

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its position in shares of Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after acquiring an additional 16,503 shares during the last quarter. State Street Corp raised its stake in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after purchasing an additional 37,236 shares during the period. Nkcfo LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at $1,088,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at $604,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $18,767,000. 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.