Planet Fitness (NYSE:PLNT – Get Rating) had its target price dropped by analysts at DA Davidson from $110.00 to $90.00 in a research report issued to clients and investors on Friday, The Fly reports. DA Davidson’s target price would indicate a potential upside of 23.98% from the stock’s previous close. DA Davidson also issued estimates for Planet Fitness’ Q2 2022 earnings at $0.36 EPS.
PLNT has been the topic of several other reports. Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 objective price on the stock. in a research report on Wednesday, March 2nd. Piper Sandler lowered their objective price on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday. StockNews.com initiated coverage on shares of Planet Fitness in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Evercore ISI initiated coverage on shares of Planet Fitness in a research note on Monday, March 14th. They set an “outperform” rating and a $130.00 target price on the stock. Finally, BMO Capital Markets decreased their target price on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $96.50.
Shares of PLNT opened at $72.59 on Friday. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 113.42, a PEG ratio of 2.30 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. The firm has a 50 day moving average price of $81.68 and a 200-day moving average price of $85.60.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. Equities research analysts forecast that Planet Fitness will post 1.54 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Edmond DE Rothschild Holding SA increased its position in shares of Planet Fitness by 3.7% during the fourth quarter. Edmond DE Rothschild Holding SA now owns 3,417 shares of the company’s stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Arizona State Retirement System increased its position in shares of Planet Fitness by 0.6% during the first quarter. Arizona State Retirement System now owns 22,529 shares of the company’s stock worth $1,903,000 after purchasing an additional 127 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Planet Fitness by 29.7% during the fourth quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock worth $51,000 after purchasing an additional 129 shares in the last quarter. Royal Bank of Canada increased its position in shares of Planet Fitness by 0.8% during the third quarter. Royal Bank of Canada now owns 17,076 shares of the company’s stock worth $1,342,000 after purchasing an additional 141 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Planet Fitness by 0.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,806 shares of the company’s stock worth $4,421,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
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.
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