Planet Fitness (NYSE:PLNT) Price Target Raised to $110.00

Planet Fitness (NYSE:PLNT) had its price objective increased by JPMorgan Chase & Co. from $108.00 to $110.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

PLNT has been the topic of several other reports. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. UBS Group assumed coverage on shares of Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley increased their price target on shares of Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Royal Bank Of Canada raised their price objective on shares of Planet Fitness from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Stifel Nicolaus set a $125.00 price objective on Planet Fitness in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.31.

Planet Fitness Stock Up 2.7%

PLNT opened at $106.04 on Friday. Planet Fitness has a 52 week low of $87.72 and a 52 week high of $114.47. The business has a 50 day moving average price of $98.66 and a two-hundred day moving average price of $102.81. The company has a market cap of $8.93 billion, a PE ratio of 43.28, a P/E/G ratio of 2.39 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The company had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, sell-side analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLNT. Game Plan Financial Advisors LLC purchased a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its holdings in Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the last quarter. Brooklyn Investment Group boosted its position in Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Planet Fitness by 6,950.0% in the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after buying an additional 417 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.