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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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