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

Planet Fitness, Inc. (NYSE:PLNT) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, ten have assigned 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 $77.64.

Several research analysts have commented on the stock. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $100.00 in a research report on Monday, June 10th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Raymond James boosted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, Robert W. Baird boosted their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th.

Planet Fitness Trading Up 2.0 %

NYSE PLNT opened at $73.60 on Friday. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $75.86. The company has a 50 day moving average of $66.33 and a 200-day moving average of $66.54. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.47 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Planet Fitness will post 2.43 earnings per share for the current year.

Institutional Trading of Planet Fitness

Several institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. grew its stake in shares of Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Planet Fitness by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock worth $1,026,000 after purchasing an additional 174 shares during the last quarter. Amalgamated Bank grew its stake in shares of Planet Fitness by 0.3% in the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after purchasing an additional 179 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Planet Fitness by 2.8% in the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock worth $494,000 after purchasing an additional 182 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Planet Fitness by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after buying an additional 190 shares during the period. Institutional investors 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.