Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $70.21.

A number of research analysts have recently commented on PLNT shares. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a report on Monday, April 1st. JPMorgan Chase & Co. reduced their price target on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Royal Bank of Canada raised their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Piper Sandler upped their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, Stifel Nicolaus decreased their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after acquiring an additional 351,401 shares during the last quarter. Oak Thistle LLC bought a new stake in Planet Fitness in the fourth quarter valued at approximately $389,000. Graham Capital Management L.P. acquired a new stake in Planet Fitness in the third quarter worth $944,000. Pacer Advisors Inc. boosted its position in shares of Planet Fitness by 80.4% during the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock worth $937,000 after purchasing an additional 5,719 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Planet Fitness by 3.4% in the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock valued at $1,479,000 after buying an additional 659 shares during the period. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $61.86 on Thursday. The company has a market capitalization of $5.45 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. Planet Fitness has a one year low of $44.13 and a one year high of $75.86. The business’s 50-day moving average price is $61.42 and its two-hundred day moving average price is $65.21.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness will post 2.48 EPS for the current year.

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.