Shares of Planet Fitness, Inc. (NYSE: PLNT – Get Rating) have earned a consensus “moderate buy” rating from the fourteen brokerages that currently cover the company, Marketbeat.com reports. Four research analysts gave the stock a hold rating, eight issued a buy rating and one gave the company a strong buy rating. The 12-month average target price among brokerages that have issued ratings on the stock over the past year is $90.67.
A number of research analysts have weighed in on PLNT shares. StockNews.com launched coverage on Planet Fitness stocks in a research note on Thursday, March 16. They issued a “hold” rating on the stock. Morgan Stanley raised its price target on Planet Fitness from $92.00 to $93.00 and gave the company an “overweight” rating in a Monday, Feb. 27 research note. Cowen raised its price target on Planet Fitness from $90.00 to $92.00 and gave the stock an “outperform” rating in a Monday, February 27, report. Robert W. Baird raised his price target on Planet Fitness from $100.00 to $105.00 and gave the company an “outperform” rating in a Friday, February 24 report. Finally, Piper Sandler raised her price target on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a Thursday, December 22 research report.
Planet Fitness Stock Up to 0.0%
Shares of PLNT opened at $76.39 on Wednesday. The company has a 50-day moving average of $79.28 and a 200-day moving average of $73.84. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 65.29, a growth price-to-earnings ratio of 1.44 and a beta of 1.30. Planet Fitness has a 52-week minimum of $54.15 and a 52-week maximum of $88.31.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly results on Thursday, February 23. The company reported EPS of $0.53 for the quarter, beating analyst consensus estimates of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. The company posted revenue of $281.30 million in the quarter, compared to $271.48 million expected by analysts. During the same period last year, the company posted earnings per share of $0.26. The company’s quarterly revenue increased 53.2% year over year. Analysts expect Planet Fitness to post 2.2 earnings per share for the current year.
Institutional entries and exits
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its position in Planet Fitness by 0.8% in the fourth quarter. Amalgamated Bank now owns 18,349 shares of the company worth $1,446,000 after buying 149 more shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Planet Fitness by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company valued at $112,000 after purchasing an additional 157 shares during the period. Truist Financial Corp increased its stake in shares of Planet Fitness by 0.6% in the third quarter. Truist Financial Corp now owns 38,704 shares of the company valued at $2,231,000 after purchasing an additional 215 shares during the period. Royal Bank of Canada increased its stake in shares of Planet Fitness by 1.1% in the third quarter. Royal Bank of Canada now owns 19,590 shares of the company valued at $1,129,000 after purchasing an additional 216 shares during the period. Finally, Captrust Financial Advisors increased its equity stake in Planet Fitness by 23.0% in the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company valued at $99,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors hold 94.56% of the company’s shares.
About Planet Fitness(Get a rating)
Planet Fitness, Inc is engaged in the operation and franchise of fitness centers. It operates through the following segments: Franchise, Company-Owned Stores and Equipment. The Franchise segment includes activities related to the Company’s franchise operations in the United States, Puerto Rico, Canada, Dominican Republic, Panama, Mexico and Australia.
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