Roth Capital Reiterates $23.00 Price Target for Planet Fitness, Inc. (NYSE:PLNT)
Planet Fitness, Inc. (NYSE:PLNT) has been assigned a $23.00 price objective by analysts at Roth Capital in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price objective points to a potential downside of 0.17% from the company’s current price.
Several other brokerages also recently weighed in on PLNT. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC raised their target price on Planet Fitness from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Imperial Capital raised their target price on Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Finally, Guggenheim restated a “buy” rating and set a $24.00 target price on shares of Planet Fitness in a research note on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $25.09.
Shares of Planet Fitness (NYSE PLNT) traded up 7.86% on Thursday, hitting $24.85. The stock had a trading volume of 4,955,259 shares. Planet Fitness has a 52-week low of $18.32 and a 52-week high of $25.10. The firm’s 50-day moving average price is $23.17 and its 200 day moving average price is $21.28. The firm has a market cap of $1.80 billion, a PE ratio of 46.19 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last announced its 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. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. Planet Fitness had a negative return on equity of 79.66% and a net margin of 6.99%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. On average, equities research analysts predict that Planet Fitness will post $0.47 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in Planet Fitness by 11.1% in the first quarter. Alliancebernstein L.P. now owns 5,948,306 shares of the company’s stock worth $114,624,000 after buying an additional 593,265 shares during the period. AQR Capital Management LLC purchased a new position in Planet Fitness during the fourth quarter worth approximately $639,000. OMERS ADMINISTRATION Corp purchased a new position in Planet Fitness during the first quarter worth approximately $734,000. Guggenheim Capital LLC purchased a new position in Planet Fitness during the fourth quarter worth approximately $228,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock worth $383,000 after buying an additional 8,916 shares during the period. Institutional investors and hedge funds own 94.72% of the company’s stock.
About Planet Fitness
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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