Guggenheim Issues Positive Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT - Free Report) had its target price upped by Guggenheim from $105.00 to $110.00 in a research note published on Monday, Marketbeat.com reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. DA Davidson restated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Canaccord Genuity Group initiated coverage on Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price objective on the stock. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Finally, Macquarie reduced their price target on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Stock Performance

PLNT traded down $0.57 during trading on Monday, hitting $93.91. The stock had a trading volume of 1,037,277 shares, compared to its average volume of 1,438,202. The stock has a 50 day simple moving average of $96.65 and a two-hundred day simple moving average of $95.93. The company has a market capitalization of $7.95 billion, a PE ratio of 50.49, a PEG ratio of 2.45 and a beta of 1.39. Planet Fitness has a twelve month low of $57.64 and a twelve month high of $110.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chicago Capital LLC raised its stake in shares of Planet Fitness by 35.3% in the first quarter. Chicago Capital LLC now owns 10,154 shares of the company's stock worth $981,000 after acquiring an additional 2,651 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Planet Fitness in the first quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC raised its position in Planet Fitness by 15.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company's stock worth $299,000 after purchasing an additional 418 shares during the last quarter. Simon Quick Advisors LLC boosted its position in Planet Fitness by 9.4% in the 1st quarter. Simon Quick Advisors LLC now owns 4,394 shares of the company's stock valued at $425,000 after buying an additional 377 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Planet Fitness by 381.8% in the first quarter. Assenagon Asset Management S.A. now owns 66,545 shares of the company's stock worth $6,429,000 after purchasing an additional 52,733 shares during the period. Institutional investors and hedge funds 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.