Roth Mkm Reaffirms Buy Rating for Planet Fitness (NYSE:PLNT)

Roth Mkm reiterated their buy rating on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Wednesday morning,Benzinga reports. Roth Mkm currently has a $115.00 target price on the stock, up from their prior target price of $110.00.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Morgan Stanley increased their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. DA Davidson restated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $92.50 on Wednesday. The firm has a market cap of $7.82 billion, a PE ratio of 49.73, a P/E/G ratio of 2.45 and a beta of 1.53. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $110.00. The stock has a fifty day moving average price of $102.28 and a 200-day moving average price of $92.23.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results 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 the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities analysts anticipate that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Several hedge funds and other institutional investors have recently bought and sold shares of PLNT. Creative Planning lifted its position in Planet Fitness by 2.1% in the third quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Planet Fitness by 202.3% in the third quarter. Assenagon Asset Management S.A. now owns 45,928 shares of the company’s stock valued at $3,730,000 after purchasing an additional 30,736 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Planet Fitness by 3.3% in the third quarter. State of Alaska Department of Revenue now owns 9,825 shares of the company’s stock valued at $797,000 after purchasing an additional 310 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Planet Fitness in the third quarter valued at approximately $13,592,000. Finally, Verdence Capital Advisors LLC lifted its position in Planet Fitness by 4.5% in the third 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 during the last quarter. 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.