Roth Capital Cuts Planet Fitness (NYSE:PLNT) Price Target to $75.00

Planet Fitness (NYSE:PLNT) had its price target decreased by Roth Capital from $86.00 to $75.00 in a research note issued to investors on Friday, The Fly reports. Roth Capital currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on PLNT. ValuEngine cut shares of Planet Fitness from a hold rating to a sell rating in a research note on Tuesday, November 5th. Imperial Capital upgraded shares of Planet Fitness from an in-line rating to an outperform rating and set a $72.50 target price for the company in a research note on Monday, October 14th. Zacks Investment Research cut shares of Planet Fitness from a hold rating to a strong sell rating and set a $63.00 target price for the company. in a research note on Wednesday. Finally, Berenberg Bank cut shares of Planet Fitness from a buy rating to a hold rating and cut their target price for the stock from $80.00 to $69.00 in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Planet Fitness presently has a consensus rating of Buy and an average target price of $76.50.

Shares of NYSE PLNT traded up $5.71 during mid-day trading on Friday, reaching $68.42. 4,475,984 shares of the company were exchanged, compared to its average volume of 1,423,953. The company’s 50-day simple moving average is $60.22 and its 200-day simple moving average is $70.59. The stock has a market capitalization of $5.55 billion, a P/E ratio of 56.08, a P/E/G ratio of 1.69 and a beta of 0.63. Planet Fitness has a twelve month low of $48.00 and a twelve month high of $81.90.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. Planet Fitness’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 EPS. As a group, analysts expect that Planet Fitness will post 1.57 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Planet Fitness by 157.1% during the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the period. Tower Research Capital LLC TRC increased its position in Planet Fitness by 620.0% during the third quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock worth $42,000 after acquiring an additional 620 shares during the period. HM Payson & Co. bought a new position in Planet Fitness during the second quarter worth about $47,000. Captrust Financial Advisors increased its position in Planet Fitness by 298.1% during the second quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock worth $74,000 after acquiring an additional 766 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Planet Fitness during the second quarter worth about $80,000. 88.97% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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