Planet Fitness (NYSE:PLNT) PT Set at $120.00 by Stifel Nicolaus

Planet Fitness (NYSE:PLNT) received a $120.00 price objective from investment analysts at Stifel Nicolaus in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 14.50% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Macquarie reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. BMO Capital Markets increased their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Finally, Roth Mkm reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Planet Fitness Price Performance

Shares of PLNT opened at $104.80 on Thursday. The firm’s 50 day simple moving average is $97.14 and its 200 day simple moving average is $98.87. The company has a market capitalization of $8.82 billion, a P/E ratio of 56.34, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness has a 1-year low of $60.56 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analysts’ expectations of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Planet Fitness by 38.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 401,625 shares of the company’s stock worth $38,801,000 after purchasing an additional 111,168 shares during the last quarter. Woodline Partners LP bought a new position in shares of Planet Fitness in the first quarter worth approximately $7,490,000. Empowered Funds LLC bought a new position in shares of Planet Fitness in the first quarter worth approximately $1,891,000. United Services Automobile Association bought a new position in shares of Planet Fitness in the first quarter worth approximately $528,000. Finally, Fred Alger Management LLC boosted its holdings in Planet Fitness by 24.7% in the first quarter. Fred Alger Management LLC now owns 546,200 shares of the company’s stock valued at $52,768,000 after acquiring an additional 108,024 shares in the last quarter. 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.