Planet Fitness (NYSE:PLNT) Receives “Neutral” Rating from Macquarie

Macquarie reaffirmed their neutral rating on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Friday morning, MarketBeat.com reports. Macquarie currently has a $99.00 target price on the stock, up from their previous target price of $91.00.

PLNT has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Morgan Stanley lifted their price objective on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their target price on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.81.

Planet Fitness Price Performance

PLNT stock opened at $95.31 on Friday. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 51.24, a price-to-earnings-growth ratio of 3.18 and a beta of 1.49. The company has a 50-day moving average of $81.75 and a two-hundred day moving average of $74.97. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $98.59.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Equities analysts expect that Planet Fitness will post 2.47 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP increased its stake in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 318 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares in the last quarter. Finally, Dnca Finance bought a new position in shares of Planet Fitness in the second quarter valued at about $82,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Company Profile

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