Planet Fitness (NYSE:PLNT – Get Rating) had its target price reduced by analysts at BMO Capital Markets from $96.00 to $88.00 in a research report issued to clients and investors on Wednesday, The Fly reports. BMO Capital Markets’ price target points to a potential upside of 29.85% from the company’s current price.
Several other brokerages have also recently issued reports on PLNT. Morgan Stanley boosted their price objective on shares of Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, January 12th. Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price objective for the company. in a research note on Wednesday, March 2nd. Robert W. Baird decreased their price target on shares of Planet Fitness from $108.00 to $92.00 in a research report on Wednesday. DA Davidson upped their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 12th. Finally, StockNews.com began coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $98.17.
Shares of PLNT opened at $67.77 on Wednesday. The stock has a fifty day moving average of $82.11 and a two-hundred day moving average of $85.86. The company has a market capitalization of $6.17 billion, a PE ratio of 130.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. Planet Fitness has a fifty-two week low of $67.39 and a fifty-two week high of $99.60.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 7.29% and a negative return on equity of 10.63%. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same period in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. As a group, research analysts anticipate that Planet Fitness will post 1.52 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of Planet Fitness by 2.7% in the 2nd quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock valued at $173,197,000 after purchasing an additional 60,746 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Planet Fitness by 1.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 58,447 shares of the company’s stock valued at $4,644,000 after purchasing an additional 729 shares in the last quarter. Truist Financial Corp raised its stake in shares of Planet Fitness by 1.3% in the 3rd quarter. Truist Financial Corp now owns 51,030 shares of the company’s stock valued at $4,009,000 after purchasing an additional 656 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Planet Fitness in the 3rd quarter valued at about $26,000. Finally, Swiss National Bank raised its stake in shares of Planet Fitness by 0.7% in the 3rd quarter. Swiss National Bank now owns 183,885 shares of the company’s stock valued at $14,444,000 after purchasing an additional 1,300 shares in the last quarter. 93.87% of the stock is owned by institutional investors.
About Planet Fitness (Get Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Featured Articles
Receive News & Ratings for Planet Fitness Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Planet Fitness and related companies with MarketBeat.com’s FREE daily email newsletter.
