Planet Fitness (NYSE:PLNT) Price Target Cut to $95.00 by Analysts at Macquarie

Planet Fitness (NYSE:PLNT) had its price target decreased by stock analysts at Macquarie from $99.00 to $95.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s target price indicates a potential upside of 2.70% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Guggenheim reissued a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a report on Thursday. DA Davidson reiterated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Roth Mkm reiterated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday. Raymond James boosted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Planet Fitness Stock Up 1.2 %

PLNT opened at $92.50 on Thursday. The stock’s fifty day moving average is $102.28 and its two-hundred day moving average is $92.23. The company has a market capitalization of $7.82 billion, a P/E ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating 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 firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of PLNT. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 157 shares during the period. R Squared Ltd purchased a new position in Planet Fitness in the fourth quarter valued at $39,000. CoreCap Advisors LLC raised its position 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 acquiring an additional 450 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness during the 4th quarter worth about $51,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.