Planet Fitness, Inc. (NYSE:PLNT) has been assigned an average rating of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $27.33.
Several analysts have issued reports on the stock. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of Planet Fitness in a report on Thursday, August 10th. Roth Capital upped their price target on shares of Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $23.00) on shares of Planet Fitness in a report on Thursday, August 10th.
Several institutional investors and hedge funds have recently made changes to their positions in PLNT. Teachers Advisors LLC lifted its stake in shares of Planet Fitness by 72.7% during the fourth quarter. Teachers Advisors LLC now owns 44,550 shares of the company’s stock valued at $895,000 after buying an additional 18,754 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Planet Fitness by 11.3% during the first quarter. Wells Fargo & Company MN now owns 818,168 shares of the company’s stock valued at $15,766,000 after buying an additional 82,828 shares during the period. American Century Companies Inc. purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $5,418,000. Capital Fund Management S.A. purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $499,000. Finally, Swiss National Bank lifted its stake in shares of Planet Fitness by 32.9% during the first quarter. Swiss National Bank now owns 112,985 shares of the company’s stock valued at $2,177,000 after buying an additional 28,000 shares during the period.
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Planet Fitness (NYSE PLNT) traded up 1.40% on Friday, reaching $26.77. 1,255,874 shares of the company’s stock were exchanged. Planet Fitness has a 12-month low of $19.17 and a 12-month high of $26.78. The company has a market cap of $2.29 billion, a P/E ratio of 46.16 and a beta of 0.85. The firm has a 50 day moving average of $25.81 and a 200-day moving average of $25.81.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share 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 company had revenue of $107.31 million for the quarter, compared to analyst estimates of $101.99 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that Planet Fitness will post $0.47 EPS for the current fiscal year.
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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