Planet Fitness, Inc. (NYSE:PLNT) had its price target increased by analysts at Roth Capital from $23.00 to $27.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price target suggests a potential upside of 10.16% from the company’s previous close.
Several other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, July 12th. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC upped their price target on shares of Planet Fitness from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Guggenheim reaffirmed a “buy” rating and set a $24.00 price target on shares of Planet Fitness in a research report on Monday, April 24th. Finally, Imperial Capital upped their price target on shares of Planet Fitness from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $27.33.
Shares of Planet Fitness (NYSE:PLNT) opened at 24.51 on Monday. The company has a 50-day moving average of $23.27 and a 200 day moving average of $21.47. Planet Fitness has a 12-month low of $18.32 and a 12-month high of $25.19. The firm has a market cap of $2.10 billion, a P/E ratio of 42.26 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Planet Fitness’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock valued at $94,002,000 after buying an additional 3,381,810 shares during the last quarter. BlackRock Inc. raised its stake in Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after buying an additional 2,496,984 shares during the last quarter. Wasatch Advisors Inc. acquired a new stake in Planet Fitness during the second quarter valued at about $41,580,000. Junto Capital Management LP acquired a new stake in Planet Fitness during the second quarter valued at about $37,227,000. Finally, DSAM Partners London Ltd acquired a new stake in Planet Fitness during the second quarter valued at about $36,383,000. 98.33% of the stock is owned by institutional investors.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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