Planet Fitness (NYSE:PLNT) Stock Price Up 3.9%

Shares of Planet Fitness, Inc. (NYSE:PLNT) traded up 3.9% during trading on Monday . The company traded as high as $63.66 and last traded at $63.66. 482,196 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,610,696 shares. The stock had previously closed at $61.29.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. DA Davidson reissued a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Monday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Finally, Stifel Nicolaus lowered their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

Planet Fitness Stock Performance

The business has a fifty day simple moving average of $63.43 and a 200-day simple moving average of $64.25. The stock has a market capitalization of $5.36 billion, a P/E ratio of 37.52, a PEG ratio of 1.26 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. Planet Fitness’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in PLNT. Park Avenue Securities LLC boosted its stake in Planet Fitness by 7.4% in the 1st quarter. Park Avenue Securities LLC now owns 8,474 shares of the company’s stock worth $531,000 after purchasing an additional 583 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Planet Fitness by 58.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,530 shares of the company’s stock valued at $185,000 after acquiring an additional 931 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Planet Fitness by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock valued at $589,606,000 after acquiring an additional 196,809 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Planet Fitness during the 4th quarter valued at about $19,749,000. Finally, Quarry LP bought a new stake in shares of Planet Fitness during the 4th quarter valued at about $25,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.