Planet Fitness (NYSE:PLNT) Receives "Buy" Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Planet Fitness (NYSE:PLNT - Free Report) in a report released on Thursday morning,Benzinga reports. They currently have a $105.00 price objective on the stock.

Several other equities analysts also recently weighed in on PLNT. Stifel Nicolaus boosted their target price on Planet Fitness from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. DA Davidson reaffirmed a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus price target of $99.00.

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Planet Fitness Trading Up 0.3 %

PLNT traded up $0.29 on Thursday, hitting $92.84. 2,174,549 shares of the company's stock traded hands, compared to its average volume of 1,655,652. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 49.91, a P/E/G ratio of 2.45 and a beta of 1.53. Planet Fitness has a one year low of $54.35 and a one year high of $110.00. The company's 50 day simple moving average is $102.15 and its 200-day simple moving average is $92.50.

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

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after purchasing an additional 2,570,826 shares during the period. Ninety One UK Ltd purchased a new position in shares of Planet Fitness during the 4th quarter valued at approximately $130,376,000. Norges Bank acquired a new stake in shares of Planet Fitness in the fourth quarter valued at about $100,009,000. FMR LLC boosted its holdings in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after buying an additional 691,761 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in Planet Fitness by 103.4% during the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock worth $1,104,000 after buying an additional 340,370 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

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.