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

Planet Fitness, Inc. (NYSE:PLNT) has been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $100.17.

Several equities research analysts have recently issued reports on PLNT shares. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Macquarie lowered their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th.

Planet Fitness Price Performance

Planet Fitness stock opened at $96.18 on Friday. Planet Fitness has a 1-year low of $57.64 and a 1-year high of $110.00. The business has a fifty day moving average price of $100.46 and a 200-day moving average price of $94.73. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, equities research analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently added to or reduced their stakes in PLNT. Vanguard Group Inc. boosted its position in Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock valued at $794,496,000 after purchasing an additional 39,928 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the period. JPMorgan Chase & Co. grew its position in shares of Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after acquiring an additional 36,803 shares during the last quarter. State Street Corp grew its position in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Planet Fitness by 20.3% in the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock worth $175,256,000 after acquiring an additional 299,148 shares during the period. Institutional investors and hedge funds 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.