Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $77.64.

Several equities research analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Piper Sandler lifted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $92.00 in a report on Monday, June 24th. Finally, Raymond James lifted their target price on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its holdings 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 buying an additional 255 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Planet Fitness in the first quarter worth approximately $27,000. GAMMA Investing LLC raised 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 valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC lifted its position in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Planet Fitness in the fourth quarter worth approximately $47,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 0.4 %

NYSE:PLNT opened at $74.99 on Tuesday. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $79.09. The stock has a market cap of $6.61 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.49. The firm’s fifty day simple moving average is $70.90 and its 200 day simple moving average is $66.89.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. Planet Fitness’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Planet Fitness will post 2.43 EPS 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.