Planet Fitness, Inc. (NYSE:PLNT) Receives $100.17 Average Price Target from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $101.44.

PLNT has been the topic of several research reports. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 price target on the stock. BMO Capital Markets boosted their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Macquarie dropped their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus cut their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Finally, Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $95.80 on Friday. Planet Fitness has a 1 year low of $57.64 and a 1 year high of $110.00. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The company’s 50 day simple moving average is $100.06 and its 200 day simple moving average is $95.02.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results 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. 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 analyst estimates of $324.57 million. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently modified their holdings of the company. UMB Bank n.a. boosted its position in 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 acquiring an additional 157 shares during the last quarter. R Squared Ltd acquired a new position in shares of Planet Fitness in the 4th quarter valued at about $39,000. CoreCap Advisors LLC boosted 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 valued at $48,000 after purchasing an additional 450 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Planet Fitness during the fourth quarter worth approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.