Planet Fitness (NYSE:PLNT) Price Target Raised to $110.00 at BMO Capital Markets

Planet Fitness (NYSE:PLNT) had its price target raised by equities research analysts at BMO Capital Markets from $100.00 to $110.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 14.37% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target on the stock. Macquarie cut their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $101.44.

Planet Fitness Trading Down 3.0 %

NYSE:PLNT opened at $96.18 on Monday. The company has a market cap of $8.14 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The company has a 50 day simple moving average of $100.46 and a two-hundred day simple moving average of $94.82. Planet Fitness has a 12 month low of $57.64 and a 12 month high of $110.00.

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

Institutional Investors Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. grew its position in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter valued at $39,000. CoreCap Advisors LLC grew its holdings in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after purchasing an additional 450 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Planet Fitness in the 4th quarter worth about $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after buying an additional 490 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

About Planet Fitness

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.