Planet Fitness, Inc. (NYSE:PLNT) Receives $100.17 Average PT from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eighteen brokerages that are covering the stock, Marketbeat reports. Four 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. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $101.44.

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Macquarie lowered their price objective on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Guggenheim reiterated a "buy" rating and set a $105.00 price target on shares of Planet Fitness in a report on Thursday, February 27th.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock worth $794,496,000 after purchasing an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the period. JPMorgan Chase & Co. boosted its stake in Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after buying an additional 36,803 shares in the last quarter. State Street Corp boosted 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 buying an additional 37,236 shares in the last quarter. Finally, Anomaly Capital Management LP increased its holdings in Planet Fitness by 20.3% in the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after buying an additional 299,148 shares during the period. 95.53% of the stock is currently owned by institutional investors.

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Planet Fitness Price Performance

Shares of NYSE:PLNT traded up $1.02 on Friday, reaching $96.70. 143,729 shares of the company traded hands, compared to its average volume of 1,562,213. The company's 50 day moving average is $100.06 and its 200-day moving average is $95.02. The stock has a market capitalization of $8.19 billion, a PE ratio of 51.96, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

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

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.