Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has been assigned an average rating of “Buy” from the fourteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $96.50.
A number of equities research analysts have commented on the stock. TheStreet cut shares of Planet Fitness from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. Piper Sandler reduced their price objective on shares of Planet Fitness from $87.00 to $72.00 in a research report on Wednesday. DA Davidson reduced their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research report on Friday. StockNews.com started coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut 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.
NYSE PLNT opened at $72.59 on Friday. Planet Fitness has a 12 month low of $67.39 and a 12 month high of $99.60. The stock 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. The company’s 50 day moving average is $81.68 and its two-hundred day moving average is $85.60.
Planet Fitness (NYSE:PLNT – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $190.44 million. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue was up 66.8% compared to the same quarter last year. Sell-side analysts predict that Planet Fitness will post 1.54 per share for the current fiscal year earnings.
A number of hedge funds and other institutional investors have recently bought and sold shares of PLNT. Morgan Stanley boosted its stake in Planet Fitness by 2.7% during the second quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock worth $173,197,000 after buying an additional 60,746 shares during the period. Moors & Cabot Inc. purchased a new position in Planet Fitness during the third quarter worth $26,000. Principal Financial Group Inc. boosted its stake in Planet Fitness by 0.6% during the third quarter. Principal Financial Group Inc. Now owns 197,033 shares of the company’s stock shares worth $15,477,000 after buying an additional 1,187 during the period. CIBC Asset Management Inc boosted its stake in Planet Fitness by 7.7% during the third quarter. CIBC Asset Management Inc now owns 3,414 shares of the company’s stock worth $268,000 after buying an additional 243 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Planet Fitness by 27.1% during the third quarter. Teacher Retirement System of Texas now owns 13,344 shares of the company’s stock worth $1,048,000 after buying an additional 2,843 shares during the period. 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.
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