Planet Fitness (NYSE:PLNT – Get Rating) had its target price lowered by Robert W. Baird from $108.00 to $92.00 in a report issued on Wednesday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 35.75% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Evercore ISI assumed coverage on shares of Planet Fitness in a research report on Monday, March 14th. They set an “outperform” rating and a $130.00 price objective for the company. StockNews.com assumed coverage on Planet Fitness in a research note on Thursday, March 31st. They set a “hold” rating on the stock. DA Davidson lifted their price target on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 12th. Cowen upgraded shares of Planet Fitness to a “hold” rating and upped their price objective for the company from $100.00 to $110.00 in a report on Wednesday, January 12th. Finally, Piper Sandler lowered their price target on shares of Planet Fitness from $87.00 to $72.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Planet Fitness has a consensus rating of “Buy” and an average target price of $98.83.
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NYSE PLNT opened at $67.77 on Wednesday. The company has a 50 day moving average of $82.11 and a 200-day moving average of $85.86. Planet Fitness has a 1-year low of $67.39 and a 1-year high of $99.60. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 130.33, a PEG ratio of 2.46 and a beta of 1.16.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings results 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 negative return on equity of 10.63% and a net margin of 7.29%. The business had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. Research analysts expect that Planet Fitness will post 1.52 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Moors & Cabot Inc. bought a new position in Planet Fitness in the third quarter valued at approximately $26,000. Liberty Wealth Management LLC increased its stake in shares of Planet Fitness by 388.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after purchasing an additional 272 shares during the last quarter. Pinnacle Holdings LLC acquired a new position in shares of Planet Fitness during the 3rd quarter worth $30,000. O Dell Group LLC bought a new stake in shares of Planet Fitness during the 1st quarter worth $30,000. Finally, Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $33,000. Institutional investors own 93.87% of the company’s stock.
Planet Fitness Company Profile (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.
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