Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Price Target at $99.00

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $99.00.

A number of research analysts have commented on PLNT shares. Guggenheim reaffirmed a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Roth Mkm reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Macquarie decreased their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th.

Planet Fitness Trading Down 0.7 %

Shares of PLNT opened at $93.11 on Wednesday. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00. The firm has a 50-day moving average price of $101.39 and a 200 day moving average price of $93.24. The firm has a market capitalization of $7.88 billion, a P/E ratio of 50.06, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Planet Fitness’s quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts predict that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Large investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after buying an additional 16,503 shares during the period. AMJ Financial Wealth Management purchased a new stake in shares of Planet Fitness during the fourth quarter worth approximately $495,000. State Street Corp increased its stake in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares during the period. Nkcfo LLC purchased a new stake in shares of Planet Fitness during the fourth quarter worth approximately $1,088,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness during the third quarter worth approximately $604,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

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.