Planet Fitness (NYSE:PLNT) Given Neutral Rating at Macquarie

Planet Fitness (NYSE:PLNT)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Macquarie in a research note issued on Friday, Marketbeat reports. They presently have a $99.00 price target on the stock, up from their previous price target of $91.00. Macquarie’s target price would suggest a potential upside of 5.20% from the company’s previous close.

A number of other analysts have also commented on the company. Stifel Nicolaus lifted their price target on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a report on Friday, September 27th. They set a “hold” rating and a $71.00 price objective for the company. Bank of America boosted their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley raised their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Five 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.88.

Planet Fitness Price Performance

PLNT opened at $94.11 on Friday. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $98.59. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 2.64 and a beta of 1.49. The firm’s fifty day moving average price is $81.47 and its two-hundred day moving average price is $74.53.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Planet Fitness will post 2.43 EPS for the current year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently added to or reduced their stakes in PLNT. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Planet Fitness by 26.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,582 shares of the company’s stock worth $851,000 after buying an additional 2,831 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Planet Fitness by 228.8% in the 1st quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company’s stock worth $1,445,000 after purchasing an additional 16,053 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after purchasing an additional 174 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Planet Fitness by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 74,775 shares of the company’s stock valued at $4,683,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Planet Fitness during the 1st quarter valued at $722,000. Hedge funds and other 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.