Stifel Nicolaus Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT - Free Report) had its target price lowered by Stifel Nicolaus from $90.00 to $82.00 in a report released on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also recently commented on the company. Roth Mkm reaffirmed a "buy" rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Macquarie reduced their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Raymond James lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Planet Fitness Stock Up 0.3 %

PLNT stock traded up $0.29 during midday trading on Friday, hitting $92.84. 2,174,549 shares of the company traded hands, compared to its average volume of 1,656,426. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $110.00. The business has a 50 day simple moving average of $102.00 and a 200-day simple moving average of $92.59. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 49.91, 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 results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the company posted $0.60 earnings per share. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its position in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd bought a new stake in shares of Planet Fitness during the 4th quarter worth $39,000. CoreCap Advisors LLC lifted its position in shares of Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $57,000. 95.53% of the stock is currently owned by institutional investors.

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.