Planet Fitness (NYSE:PLNT) PT Raised to $80.00

Planet Fitness (NYSE:PLNT) had its target price lifted by equities researchers at Raymond James from $75.00 to $80.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 23.65% from the company’s previous close.

Several other analysts also recently weighed in on PLNT. JPMorgan Chase & Co. dropped their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Thursday. Robert W. Baird boosted their price objective on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.43.

Planet Fitness Trading Down 0.9 %

Shares of PLNT traded down $0.62 during trading hours on Friday, hitting $64.70. The company had a trading volume of 1,312,130 shares, compared to its average volume of 1,711,318. The company has a market capitalization of $5.70 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. Planet Fitness has a one year low of $44.13 and a one year high of $75.86. The company’s fifty day moving average price is $61.48 and its two-hundred day moving average price is $65.21.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts forecast that Planet Fitness will post 2.48 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of PLNT. Allworth Financial LP boosted its position in shares of Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness during the first quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $47,000. Asset Management One Co. Ltd. lifted its position in 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 period. Finally, First Horizon Advisors Inc. lifted its position in Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. 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.