Planet Fitness Inc (NYSE:PLNT) has been assigned an average recommendation of “Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $68.23.
Several analysts have recently commented on PLNT shares. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, May 10th. ValuEngine downgraded shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Robert W. Baird upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. Bank of America reaffirmed a “buy” rating and issued a $72.00 price objective (up from $68.00) on shares of Planet Fitness in a report on Thursday, February 28th. Finally, Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the company from $49.00 to $75.00 in a report on Friday, February 22nd. They noted that the move was a valuation call.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. FMR LLC boosted its holdings in Planet Fitness by 57.7% during the fourth quarter. FMR LLC now owns 7,135,122 shares of the company’s stock worth $382,585,000 after buying an additional 2,610,693 shares in the last quarter. Norges Bank purchased a new stake in Planet Fitness during the fourth quarter worth $42,748,000. Pelham Capital Ltd. purchased a new stake in Planet Fitness during the first quarter worth $44,047,000. JPMorgan Chase & Co. boosted its holdings in Planet Fitness by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,118,663 shares of the company’s stock worth $76,874,000 after buying an additional 554,127 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in Planet Fitness by 56.2% during the first quarter. Federated Investors Inc. PA now owns 907,140 shares of the company’s stock worth $62,339,000 after buying an additional 326,431 shares in the last quarter. 94.00% of the stock is currently owned by hedge funds and other institutional investors.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $148.82 million for the quarter, compared to analyst estimates of $153.41 million. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. Planet Fitness’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. Equities research analysts anticipate that Planet Fitness will post 1.55 EPS for the current fiscal year.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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