Planet Fitness (NYSE:PLNT) Price Target Raised to $110.00 at Robert W. Baird

Planet Fitness (NYSE:PLNT - Get Free Report) had its target price raised by Robert W. Baird from $92.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price target suggests a potential upside of 15.41% from the stock's previous close.

PLNT has been the subject of several other reports. Stifel Nicolaus raised their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Piper Sandler raised their target price on shares of Planet Fitness from $80.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 11th. BMO Capital Markets reissued an "outperform" rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Finally, BNP Paribas raised Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price objective for the company in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.81.

Planet Fitness Price Performance

PLNT stock traded up $1.14 during midday trading on Friday, hitting $95.31. The company's stock had a trading volume of 1,981,332 shares, compared to its average volume of 1,555,188. The company's fifty day moving average price is $81.47 and its 200 day moving average price is $74.53. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $98.59. The stock has a market capitalization of $8.12 billion, a P/E ratio of 52.29, a PEG ratio of 2.84 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. Planet Fitness's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities analysts expect that Planet Fitness will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $28,000 after purchasing an additional 316 shares during the period. LRI Investments LLC lifted its holdings in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company's stock valued at $30,000 after buying an additional 153 shares during the period. Quarry LP grew its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 318 shares during the period. V Square Quantitative Management LLC raised its position in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after acquiring an additional 201 shares in the last quarter. Finally, Dnca Finance bought a new position in shares of Planet Fitness in the 2nd quarter worth about $82,000. 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.