Planet Fitness (NYSE:PLNT) Receives Neutral Rating from Macquarie

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "neutral" rating restated by stock analysts at Macquarie in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $99.00 target price on the stock, up from their previous target price of $91.00. Macquarie's price objective indicates a potential upside of 3.87% from the stock's current price.

A number of other equities analysts have also commented on PLNT. BNP Paribas upgraded Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price objective on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Roth Mkm increased their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on shares of Planet Fitness from $77.00 to $87.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.81.

Planet Fitness Stock Performance

Shares of PLNT traded up $1.14 during trading hours on Friday, hitting $95.31. 1,981,332 shares of the company were exchanged, compared to its average volume of 1,555,188. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $98.59. The firm's 50 day moving average is $81.47 and its 200-day moving average is $74.53. The company has a market cap of $8.12 billion, a PE ratio of 52.29, a PEG ratio of 2.84 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. Planet Fitness's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities analysts forecast that Planet Fitness will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Several large investors have recently made changes to their positions in the business. William Blair Investment Management LLC bought a new position in Planet Fitness in the 2nd quarter worth approximately $166,978,000. Anomaly Capital Management LP acquired a new position in Planet Fitness in the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. boosted its position in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after purchasing an additional 829,509 shares during the last quarter. Steadfast Capital Management LP grew its stake in shares of Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company's stock worth $86,546,000 after purchasing an additional 682,863 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Planet Fitness by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company's stock valued at $116,453,000 after purchasing an additional 483,586 shares during the last quarter. 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.