Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $101.72

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $101.72.

PLNT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus cut their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. BMO Capital Markets boosted their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Roth Mkm restated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, DA Davidson restated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. Tidal Investments LLC grew its position in Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after buying an additional 16,503 shares in the last quarter. GAMMA Investing LLC grew its position in Planet Fitness by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after buying an additional 192 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Planet Fitness during the fourth quarter worth about $240,000. Nordea Investment Management AB grew its position in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company’s stock worth $18,205,000 after buying an additional 8,600 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Planet Fitness by 71.9% during the fourth quarter. Fulton Bank N.A. now owns 4,429 shares of the company’s stock worth $438,000 after buying an additional 1,853 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

NYSE:PLNT opened at $96.15 on Thursday. The firm has a 50-day moving average of $95.77 and a 200-day moving average of $96.81. The company has a market cap of $8.14 billion, a PE ratio of 51.69, a PEG ratio of 2.45 and a beta of 1.39. Planet Fitness has a one year low of $58.51 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

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.