Macquarie Cuts Planet Fitness (NYSE:PLNT) Price Target to $95.00

Planet Fitness (NYSE:PLNT) had its target price cut by Macquarie from $99.00 to $95.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

PLNT has been the subject of several other reports. Guggenheim reissued a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a report on Thursday. Robert W. Baird increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Raymond James increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.00.

Planet Fitness Stock Up 1.2 %

Shares of PLNT opened at $92.50 on Thursday. The stock has a 50 day moving average price of $102.15 and a 200 day moving average price of $92.41. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 49.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $110.00.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Corient Private Wealth LLC raised its position in Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after acquiring an additional 94 shares in the last quarter. M&T Bank Corp increased its position in shares of Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after buying an additional 124 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after buying an additional 132 shares in the last quarter. Cetera Trust Company N.A increased its position in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after buying an additional 135 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. 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.