BMO Capital Markets Raises Planet Fitness (NYSE:PLNT) Price Target to $110.00

Planet Fitness (NYSE:PLNT) had its price target upped by BMO Capital Markets from $100.00 to $110.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Macquarie dropped their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Roth Mkm reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on shares of 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 reiterated a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.44.

Planet Fitness Stock Performance

Planet Fitness stock opened at $96.56 on Monday. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness has a 52-week low of $57.64 and a 52-week high of $110.00. The firm has a 50 day moving average price of $100.30 and a two-hundred day moving average price of $94.93.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data 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 during 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 for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, equities research analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of Planet Fitness by 67.4% during the fourth 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. R Squared Ltd purchased a new stake in Planet Fitness in the 4th quarter valued at about $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 in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Planet Fitness by 1,139.5% in 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 position in shares of Planet Fitness in the fourth quarter valued at approximately $57,000. 95.53% of the stock is owned by hedge funds and other 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.