Planet Fitness (NYSE:PLNT – Get Free Report)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $126.00 price objective on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 25.11% from the stock’s previous close.
PLNT has been the subject of a number of other reports. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a “buy” rating in a report on Thursday, May 22nd. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $108.64.
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Planet Fitness Trading Up 0.1%
Shares of PLNT stock opened at $100.71 on Monday. The company has a market cap of $8.48 billion, a P/E ratio of 44.76, a PEG ratio of 2.24 and a beta of 1.37. The firm has a fifty day moving average price of $107.06 and a 200 day moving average price of $102.34. Planet Fitness has a 12 month low of $77.77 and a 12 month high of $114.47.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.Planet Fitness’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. On average, equities analysts forecast that Planet Fitness will post 2.51 EPS for the current year.
Hedge Funds Weigh In On Planet Fitness
A number of institutional investors have recently modified their holdings of PLNT. Invesco Ltd. grew its position in Planet Fitness by 358.0% during the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock worth $213,618,000 after purchasing an additional 1,728,407 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after buying an additional 1,268,262 shares during the period. Norges Bank purchased a new position in shares of Planet Fitness during the second quarter worth about $116,175,000. Ninety One UK Ltd grew its holdings in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock worth $205,265,000 after buying an additional 806,023 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Planet Fitness in the 1st quarter valued at about $54,384,000. 95.53% of the stock is owned by institutional investors and hedge funds.
About Planet Fitness
(Get Free Report)
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.
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Canaccord Genuity Group Reiterates “Buy” Rating for Planet Fitness (NYSE:PLNT)
