Planet Fitness, Inc. (PLNT) Receives Consensus Recommendation of “Buy” from Analysts
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.
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