Planet Fitness (NYSE:PLNT) Reaches New 1-Year High at $77.30

Planet Fitness, Inc. (NYSE:PLNT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $77.30 and last traded at $77.00, with a volume of 158951 shares traded. The stock had previously closed at $75.37.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLNT shares. Robert W. Baird lifted their price target on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Raymond James increased their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $78.00 in a research report on Tuesday, May 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.64.

Planet Fitness Stock Performance

The company’s fifty day simple moving average is $68.50 and its two-hundred day simple moving average is $66.61. The stock has a market capitalization of $6.76 billion, a P/E ratio of 44.25, a PEG ratio of 2.53 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its stake in Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Planet Fitness in the fourth quarter valued at approximately $47,000. Finally, Asset Management One Co. Ltd. grew its position in Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

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.