Piper Jaffray Companies reissued their buy rating on shares of Planet Fitness (NYSE:PLNT) in a research report report published on Wednesday morning, TipRanks reports. The firm currently has a $84.00 target price on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ FY2019 earnings at $1.59 EPS, Q1 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.53 EPS, Q1 2021 earnings at $0.54 EPS, Q2 2021 earnings at $0.66 EPS, Q3 2021 earnings at $0.55 EPS and FY2021 earnings at $2.40 EPS.

A number of other research firms also recently issued reports on PLNT. Imperial Capital boosted their price target on Planet Fitness from $72.50 to $80.00 and gave the company an outperform rating in a research report on Tuesday, November 12th. Zacks Investment Research downgraded Planet Fitness from a hold rating to a strong sell rating and set a $63.00 price target for the company. in a research report on Wednesday, November 6th. Roth Capital lowered their price target on Planet Fitness from $86.00 to $75.00 and set a buy rating for the company in a research report on Friday, November 8th. Berenberg Bank downgraded Planet Fitness from a buy rating to a hold rating and lowered their price target for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Finally, ValuEngine downgraded Planet Fitness from a hold rating to a sell rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $77.08.

Planet Fitness stock traded up $1.35 during trading on Wednesday, hitting $71.45. The company’s stock had a trading volume of 837,860 shares, compared to its average volume of 1,730,536. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 46.73, a P/E/G ratio of 2.11 and a beta of 0.63. The stock’s fifty day moving average is $61.31 and its 200 day moving average is $70.45. Planet Fitness has a 1-year low of $48.00 and a 1-year high of $81.90.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The firm had revenue of $166.82 million during the quarter, compared to analyst estimates of $162.26 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness will post 1.57 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Planet Fitness by 157.1% in the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after buying an additional 297 shares during the period. HM Payson & Co. purchased a new stake in shares of Planet Fitness in the second quarter worth about $47,000. Tower Research Capital LLC TRC boosted its position in shares of Planet Fitness by 620.0% in the third quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock worth $42,000 after buying an additional 620 shares during the period. Captrust Financial Advisors boosted its position in shares of Planet Fitness by 298.1% in the second quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock worth $74,000 after buying an additional 766 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Planet Fitness in the second quarter worth about $80,000. 87.75% of the stock is owned by institutional investors.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

Featured Story: Why does a company issue an IPO?

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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