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

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "buy" rating reaffirmed by Roth Mkm in a note issued to investors on Wednesday,Benzinga reports. They presently have a $115.00 target price on the stock, up from their prior target price of $110.00. Roth Mkm's target price indicates a potential upside of 24.32% from the company's previous close.

Several other equities analysts have also recently issued reports on PLNT. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research note on Friday, November 8th. Macquarie reissued a "neutral" rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Finally, Piper Sandler upped their price target 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $99.00.

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Planet Fitness Trading Up 1.2 %

PLNT stock traded up $1.12 on Wednesday, hitting $92.50. The company's stock had a trading volume of 1,992,493 shares, compared to its average volume of 1,643,143. The firm has a 50 day moving average of $102.15 and a two-hundred day moving average of $92.41. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $110.00. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 49.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

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

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently made changes to their positions in PLNT. Corient Private Wealth LLC lifted its holdings in Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock valued at $457,000 after purchasing an additional 94 shares in the last quarter. M&T Bank Corp lifted its holdings in Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company's stock valued at $402,000 after purchasing an additional 124 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Planet Fitness by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company's stock valued at $247,000 after purchasing an additional 132 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after purchasing an additional 135 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.