Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have received a consensus rating of "Moderate Buy" from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $101.72.

A number of research firms have recently commented on PLNT. DA Davidson reissued a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Roth Mkm restated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target 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, Macquarie decreased 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.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in Planet Fitness during the first quarter valued at $54,384,000. Bessemer Group Inc. boosted its holdings in shares of Planet Fitness by 2.3% in the 1st quarter. Bessemer Group Inc. now owns 359,755 shares of the company's stock valued at $34,756,000 after buying an additional 8,025 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Planet Fitness by 64.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,767 shares of the company's stock valued at $1,040,000 after buying an additional 4,221 shares during the last quarter. Friedenthal Financial acquired a new stake in Planet Fitness during the first quarter worth about $76,000. Finally, State of Alaska Department of Revenue lifted its holdings in Planet Fitness by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company's stock worth $953,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $97.18 on Thursday. The business has a fifty day moving average of $96.03 and a 200 day moving average of $96.27. Planet Fitness has a 1 year low of $58.51 and a 1 year high of $110.00. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 52.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

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

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