Planet Fitness, Inc. (NYSE:PLNT) Receives $99.00 Average Price Target from Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $99.00.

A number of brokerages have recently weighed in on PLNT. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Stifel Nicolaus cut their price target on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $39,000. CoreCap Advisors LLC boosted its stake in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness during the 4th quarter valued at about $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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Planet Fitness Price Performance

Planet Fitness stock traded up $3.08 during trading hours on Wednesday, reaching $97.41. The company had a trading volume of 1,744,965 shares, compared to its average volume of 1,678,058. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00. The company has a 50-day moving average price of $101.67 and a 200 day moving average price of $92.75. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 52.37, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its 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. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, research analysts expect that Planet Fitness will post 2.51 earnings per share for the current year.

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.