Planet Fitness, Inc. (PLNT) Rating Increased to Buy at Zacks Investment Research

Planet Fitness, Inc. (NYSE:PLNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $26.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 3.46% from the company’s current price.

According to Zacks, “Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. The company’s operating segments consists of Franchise, Corporate-owned stores and Equipment. It is engaged in licensing and selling franchises under the Planet Fitness trade name, owning and operating fitness centers under the Planet Fitness trade name and selling fitness-related equipment to franchisee-owned stores. Planet Fitness, Inc. is headquartered in Newington, New Hampshire. “

PLNT has been the subject of a number of other research reports. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Guggenheim reaffirmed a “buy” rating and set a $24.00 target price on shares of Planet Fitness in a research note on Monday, April 24th. Imperial Capital raised their target price on shares of Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $29.00 target price (up previously from $26.00) on shares of Planet Fitness in a research note on Thursday. Finally, Roth Capital reissued a “buy” rating and set a $23.00 price target on shares of Planet Fitness in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $25.91.

Shares of Planet Fitness (NYSE:PLNT) opened at 25.13 on Friday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 46.71 and a beta of 0.90. The company has a 50-day moving average price of $23.21 and a 200-day moving average price of $21.31. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $25.19.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 6.99% and a negative return on equity of 79.66%. The business had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness will post $0.47 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Ticker Report and is owned by of Ticker Report. If you are reading this piece of content on another site, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2801085/planet-fitness-inc-plnt-rating-increased-to-buy-at-zacks-investment-research.html.

A number of large investors have recently bought and sold shares of PLNT. Oppenheimer Asset Management Inc. bought a new stake in Planet Fitness during the first quarter worth approximately $136,000. FNY Partners Fund LP bought a new stake in Planet Fitness during the first quarter worth approximately $154,000. Fortaleza Asset Management Inc. increased its stake in Planet Fitness by 57.9% in the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after buying an additional 2,870 shares during the period. Princeton Alpha Management LP bought a new stake in Planet Fitness during the first quarter worth approximately $224,000. Finally, Guggenheim Capital LLC bought a new stake in Planet Fitness during the fourth quarter worth approximately $228,000. 94.72% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.