Shares of Planet Fitness Inc (NYSE:PLNT) have earned an average rating of “Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $27.33.
A number of brokerages have recently commented on PLNT. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, July 12th. Roth Capital upped their target price on Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Imperial Capital upped their target price on Planet Fitness from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $29.00 target price (up previously from $26.00) on shares of Planet Fitness in a research note on Thursday, August 10th.
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Planet Fitness (PLNT) traded up 2.60% during midday trading on Wednesday, hitting $24.82. The stock had a trading volume of 1,526,751 shares. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 42.79 and a beta of 0.90. The firm has a 50 day moving average of $23.43 and a 200 day moving average of $21.56. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $25.19.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the previous year, the company earned $0.17 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts predict that Planet Fitness will post $0.47 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new position in Planet Fitness during the second quarter worth $145,000. Oppenheimer Asset Management Inc. acquired a new position in Planet Fitness during the first quarter worth $136,000. Ameritas Investment Partners Inc. boosted its position in Planet Fitness by 234.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after buying an additional 5,189 shares during the last quarter. Fortaleza Asset Management Inc. boosted its position in Planet Fitness by 57.9% in the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after buying an additional 2,870 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new position in Planet Fitness during the first quarter worth $154,000. 98.33% of the stock is owned by institutional investors.
Planet Fitness Company Profile
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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