Planet Fitness (NYSE:PLNT) Price Target Raised to $110.00 at BMO Capital Markets

Planet Fitness (NYSE:PLNT) had its target price upped by BMO Capital Markets from $100.00 to $110.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

PLNT has been the subject of several other reports. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Roth Mkm reissued a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased 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. Macquarie cut their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Planet Fitness Trading Up 0.4 %

PLNT stock opened at $96.56 on Monday. Planet Fitness has a 1-year low of $57.64 and a 1-year high of $110.00. The business’s 50 day simple moving average is $100.30 and its 200 day simple moving average is $94.93. The firm has a market capitalization of $8.18 billion, a PE ratio of 51.91, a PEG ratio of 2.45 and a beta of 1.54.

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

Institutional Investors Weigh In On Planet Fitness

Several hedge funds have recently modified their holdings of PLNT. FMR LLC raised its position in Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Planet Fitness in the 3rd quarter valued at approximately $1,990,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Planet Fitness by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company’s stock valued at $1,255,000 after acquiring an additional 1,210 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Planet Fitness during the third quarter worth $200,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Planet Fitness in the third quarter worth $478,000. 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.