Macquarie Raises Planet Fitness (NYSE:PLNT) Price Target to $110.00

Planet Fitness (NYSE:PLNT) had its price objective increased by analysts at Macquarie from $105.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s price objective would suggest a potential upside of 6.07% from the stock’s previous close.

A number of other research firms have also weighed in on PLNT. JPMorgan Chase & Co. increased their price target on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Stifel Nicolaus set a $125.00 price objective on Planet Fitness in a report on Thursday, November 6th. Canaccord Genuity Group upped their price objective on shares of Planet Fitness from $126.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their price target on shares of Planet Fitness from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.77.

Planet Fitness Stock Performance

Planet Fitness stock opened at $103.71 on Tuesday. The firm has a market cap of $8.74 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.35 and a beta of 1.37. Planet Fitness has a 1 year low of $87.72 and a 1 year high of $114.47. The firm’s 50 day moving average price is $98.79 and its two-hundred day moving average price is $102.95.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

A number of hedge funds have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. grew its position in Planet Fitness by 6.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after purchasing an additional 496,047 shares in the last quarter. Vanguard Group Inc. lifted its position in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after buying an additional 62,716 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Planet Fitness by 20.0% during the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after buying an additional 577,637 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after acquiring an additional 1,268,262 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Planet Fitness by 15.0% during the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after acquiring an additional 332,362 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.