Planet Fitness’ (PLNT) Buy Rating Reiterated at Jefferies Group LLC
Planet Fitness, Inc. (NYSE:PLNT)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $29.00 target price on the stock, up from their previous target price of $26.00. Jefferies Group LLC’s target price would indicate a potential upside of 15.40% from the company’s current price.
PLNT has been the topic of several other reports. Cowen and Company restated an “outperform” rating and set a $28.00 price target (up from $23.00) on shares of Planet Fitness in a report on Thursday. BidaskClub upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Roth Capital set a $23.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $25.82.
Shares of Planet Fitness (PLNT) traded up 9.07% during trading on Thursday, reaching $25.13. 8,664,394 shares of the company were exchanged. Planet Fitness has a 52-week low of $18.32 and a 52-week high of $25.19. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 46.71 and a beta of 0.90. The stock’s 50-day moving average is $23.16 and its 200-day moving average is $21.28.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 6.99% and a negative return on equity of 79.66%. The firm had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts predict that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in Planet Fitness during the first quarter worth about $136,000. FNY Partners Fund LP purchased a new position in shares of Planet Fitness during the first quarter valued at $154,000. Fortaleza Asset Management Inc. increased its position in shares of Planet Fitness by 57.9% in the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock valued at $183,000 after buying an additional 2,870 shares in the last quarter. Princeton Alpha Management LP purchased a new position in shares of Planet Fitness during the first quarter valued at $224,000. Finally, Guggenheim Capital LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at $228,000. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
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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