Planet Fitness (NYSE:PLNT) Price Target Raised to $115.00

Planet Fitness (NYSE:PLNT) had its price target lifted by Royal Bank Of Canada from $110.00 to $115.00 in a report published on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Stifel Nicolaus set a $125.00 price target on Planet Fitness in a research note on Thursday. UBS Group initiated coverage on Planet Fitness in a research report on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price objective on Planet Fitness from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.31.

Planet Fitness Stock Down 0.3%

NYSE PLNT traded down $0.36 during midday trading on Friday, hitting $105.99. The company had a trading volume of 542,128 shares, compared to its average volume of 1,446,575. The firm has a fifty day simple moving average of $98.66 and a two-hundred day simple moving average of $102.81. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 43.26, a P/E/G ratio of 2.39 and a beta of 1.37. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping 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 analyst estimates of $323.95 million. During the same quarter last year, the firm earned $0.64 EPS. Planet Fitness’s revenue for the quarter was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. Concurrent Investment Advisors LLC grew its holdings in Planet Fitness by 30.1% during the first quarter. Concurrent Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $289,000 after purchasing an additional 691 shares during the period. Envestnet Asset Management Inc. increased its holdings in Planet Fitness by 6.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 177,333 shares of the company’s stock valued at $17,132,000 after buying an additional 11,437 shares during the period. State of Michigan Retirement System raised its position in Planet Fitness by 1.0% during the first quarter. State of Michigan Retirement System now owns 20,100 shares of the company’s stock valued at $1,942,000 after purchasing an additional 200 shares in the last quarter. Xponance Inc. lifted its position in shares of Planet Fitness by 1.1% during the 1st quarter. Xponance Inc. now owns 13,767 shares of the company’s stock worth $1,330,000 after buying an additional 156 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Planet Fitness by 183.4% in the 1st quarter. New York State Common Retirement Fund now owns 127,345 shares of the company’s stock valued at $12,303,000 after purchasing an additional 82,415 shares in the last quarter. 95.53% of the stock is owned by 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.