Planet Fitness (NYSE:PLNT) Given New $110.00 Price Target at Guggenheim

Planet Fitness (NYSE:PLNT) had its price target lifted by Guggenheim from $105.00 to $110.00 in a research report sent to investors on Monday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

PLNT has been the topic of several other research reports. BMO Capital Markets raised their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. DA Davidson reissued a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Roth Mkm reaffirmed a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Macquarie dropped their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group assumed coverage on Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.72.

Planet Fitness Stock Down 0.0 %

NYSE PLNT opened at $97.53 on Monday. The company has a 50-day simple moving average of $97.41 and a two-hundred day simple moving average of $95.85. Planet Fitness has a 12-month low of $57.64 and a 12-month high of $110.00. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share 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 during the quarter, compared to analysts’ expectations of $324.57 million. During the same period in the prior year, the business posted $0.60 EPS. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Vanguard Group Inc. increased its stake in shares of Planet Fitness by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock worth $794,496,000 after acquiring an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock valued at $356,841,000 after purchasing an additional 36,803 shares in the last quarter. Anomaly Capital Management LP lifted its holdings in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock valued at $175,256,000 after purchasing an additional 299,148 shares during the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $130,376,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.