Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Price Target at $111.54

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $112.50.

PLNT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group reissued a “buy” rating and set a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. UBS Group assumed coverage on Planet Fitness in a research note on Friday. They set a “buy” rating and a $125.00 price objective for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th.

Institutional Trading of Planet Fitness

Hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 6.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock worth $812,213,000 after purchasing an additional 496,047 shares in the last quarter. Vanguard Group Inc. increased its position in Planet Fitness by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after purchasing an additional 62,716 shares during the period. Price T Rowe Associates Inc. MD increased its position in Planet Fitness by 62.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd raised its stake in shares of Planet Fitness by 35.7% during the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock worth $314,490,000 after buying an additional 759,227 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after buying an additional 332,362 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Up 1.2%

Shares of NYSE PLNT opened at $95.33 on Thursday. The stock has a market cap of $8.03 billion, a PE ratio of 42.37, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. Planet Fitness has a 52-week low of $77.77 and a 52-week high of $114.47. The business has a 50-day moving average price of $101.79 and a 200 day moving average price of $102.67.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

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.