Planet Fitness, Inc. (NYSE:PLNT) has received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $27.33.

A number of equities research analysts have issued reports on PLNT shares. BidaskClub upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Roth Capital set a $23.00 target price on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, August 10th. Imperial Capital increased their target price on shares of Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Finally, Cowen and Company restated an “outperform” rating and set a $28.00 price target (up previously from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th.

Shares of Planet Fitness (NYSE:PLNT) traded up 1.39% during mid-day trading on Friday, reaching $26.91. 1,243,214 shares of the company were exchanged. The firm’s 50-day moving average is $25.81 and its 200-day moving average is $25.81. Planet Fitness has a 12 month low of $19.17 and a 12 month high of $26.95. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 46.40 and a beta of 0.85.

Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts forecast that Planet Fitness will post $0.47 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Planet Fitness during the 1st quarter worth $136,000. D.A. Davidson & CO. acquired a new position in shares of Planet Fitness during the 2nd quarter worth $145,000. FNY Partners Fund LP acquired a new position in shares of Planet Fitness during the 1st quarter worth $154,000. Ameritas Investment Partners Inc. increased its stake in shares of Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after purchasing an additional 5,189 shares during the last quarter. Finally, Fortaleza Asset Management Inc. increased its stake in shares of Planet Fitness by 57.9% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after purchasing an additional 2,870 shares during the last quarter.

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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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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