Planet Fitness’ (PLNT) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Planet Fitness (NYSE:PLNT) in a research report released on Monday,Benzinga reports. Royal Bank of Canada currently has a $120.00 price objective on the stock.

A number of other brokerages have also weighed in on PLNT. Macquarie reissued a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. DA Davidson reissued a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Morgan Stanley raised their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.38.

Planet Fitness Stock Up 0.4 %

NYSE:PLNT opened at $90.52 on Monday. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $110.00. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 2.45 and a beta of 1.53. The company’s 50 day moving average price is $102.44 and its 200-day moving average price is $92.24.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the business posted $0.60 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd purchased a new position in shares of Planet Fitness during the 4th quarter valued at $39,000. CoreCap Advisors LLC boosted its holdings in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the period. Proficio Capital Partners LLC purchased a new stake in Planet Fitness in the 4th quarter worth $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.