Planet Fitness (NYSE:PLNT) PT Raised to $80.00

Planet Fitness (NYSE:PLNT) had its target price upped by JPMorgan Chase & Co. from $78.00 to $80.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.28% from the stock’s previous close.

A number of other analysts also recently issued reports on PLNT. Royal Bank of Canada lifted their price target on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Robert W. Baird lifted their price objective on shares of Planet Fitness from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.87.

Planet Fitness Trading Down 0.5 %

Shares of Planet Fitness stock traded down $0.41 on Wednesday, reaching $75.99. The stock had a trading volume of 1,441,276 shares, compared to its average volume of 1,680,267. The business’s 50 day moving average is $72.27 and its two-hundred day moving average is $66.82. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $79.10. The company has a market cap of $6.70 billion, a P/E ratio of 44.02, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. On average, equities analysts anticipate that Planet Fitness will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently modified their holdings of PLNT. Asset Management One Co. Ltd. raised its holdings in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Planet Fitness by 886.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,840 shares of the company’s stock worth $426,000 after purchasing an additional 5,248 shares during the period. Allworth Financial LP lifted its position in shares of 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 during the period. Friedenthal Financial purchased a new position in shares of Planet Fitness during the fourth quarter valued at about $728,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Planet Fitness during the fourth quarter valued at about $1,752,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.