Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $96.50.
Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Planet Fitness in a report on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet downgraded shares of Planet Fitness from a “b-” rating to a “c” rating in a report on Thursday, February 24th. Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price target on the stock. in a report on Wednesday, March 2nd. BMO Capital Markets cut their price target on shares of Planet Fitness from $96.00 to $88.00 in a report on Wednesday. Finally, DA Davidson lowered their objective price on Planet Fitness from $110.00 to $90.00 in a research report on Friday.
Large investors have recently made changes to their positions in the company. Liberty Wealth Management LLC lifted its position in shares of Planet Fitness by 388.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after buying an additional 272 shares in the last quarter. O Dell Group LLC purchased a new position in shares of Planet Fitness during the 1st quarter valued at approximately $30,000. Lazard Asset Management LLC purchased a new position in shares of Planet Fitness during the 4th quarter valued at approximately $33,000. Pinnacle Holdings LLC purchased a new position in shares of Planet Fitness during the 3rd quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Planet Fitness during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.87% of the company’s stock.
PLNT opened at $72.59 on Friday. Planet Fitness has a 52-week low of $67.39 and a 52-week high of $99.60. The company has a market cap of $6.61 billion, a P/E ratio of 113.42, a price-to-earnings-growth ratio of 2.30 and a beta of 1.16. The firm’s 50-day moving average price is $81.68 and its 200-day moving average price is $85.60.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. During the same quarter in the prior year, the company earned $0.10 EPS. Planet Fitness’s quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts expect that Planet Fitness will post 1.54 EPS for the current fiscal year.
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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