Shares of Planet Fitness Inc (NYSE:PLNT) have been assigned a consensus rating of “Buy” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $79.77.
A number of equities research analysts have weighed in on PLNT shares. Roth Capital lowered their price objective on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Piper Jaffray Companies restated a “buy” rating and set a $84.00 price objective on shares of Planet Fitness in a research note on Wednesday, November 13th. Imperial Capital raised their price objective on Planet Fitness from $72.50 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Macquarie restated a “buy” rating and set a $90.00 price objective on shares of Planet Fitness in a research note on Monday, November 25th. Finally, Zacks Investment Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating and set a $83.00 target price on the stock. in a report on Tuesday.
A number of large investors have recently bought and sold shares of PLNT. Bank of Montreal Can raised its position in shares of Planet Fitness by 157.1% during the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock valued at $35,000 after acquiring an additional 297 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Planet Fitness in the 2nd quarter valued at $759,000. MML Investors Services LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at $271,000. Parametric Portfolio Associates LLC increased its position in shares of Planet Fitness by 35.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 153,076 shares of the company’s stock valued at $11,089,000 after buying an additional 40,306 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Planet Fitness by 298.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock valued at $74,000 after buying an additional 766 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PLNT stock traded up $0.48 during trading hours on Thursday, reaching $79.50. The company had a trading volume of 181,789 shares, compared to its average volume of 676,383. Planet Fitness has a twelve month low of $56.14 and a twelve month high of $81.90. The company has a market capitalization of $7.22 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.66. The stock’s fifty day simple moving average is $74.81 and its 200 day simple moving average is $69.70.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The firm had revenue of $166.82 million during the quarter, compared to analyst estimates of $162.26 million. During the same quarter last year, the firm earned $0.28 EPS. Planet Fitness’s quarterly revenue was up 22.1% on a year-over-year basis. Research analysts forecast that Planet Fitness will post 1.57 earnings per share for the current year.
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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