Planet Fitness (NYSE:PLNT – Get Rating) was upgraded by analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a research report issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $75.00 target price on the stock. BNP Paribas’ price objective suggests a potential upside of 2.67% from the stock’s current price.
Other research analysts have also recently issued research reports on the stock. BMO Capital Markets lowered their price target on shares of Planet Fitness from $96.00 to $88.00 in a report on Wednesday, May 11th. Robert W. Baird lowered their price target on shares of Planet Fitness from $108.00 to $92.00 in a report on Wednesday, May 11th. StockNews.com assumed coverage on shares of Planet Fitness in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Wednesday, May 11th. Finally, Evercore ISI started coverage on shares of Planet Fitness in a report on Monday, March 14th. They set an “outperform” rating and a $130.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.92, according to MarketBeat.
Shares of PLNT stock opened at $73.05 on Thursday. Planet Fitness has a 1 year low of $61.11 and a 1 year high of $99.60. The firm has a 50-day moving average price of $69.69 and a 200-day moving average price of $80.59. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 114.14, a PEG ratio of 1.26 and a beta of 1.14.
Planet Fitness (NYSE:PLNT – Get Rating ) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The company’s revenue in this quarter is higher by 66.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts expect that Planet Fitness will post 1.55 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. Moors & Cabot Inc. bought a new stake in shares of Planet Fitness during the 3rd quarter worth about $26,000. About Dell Group LLC bought a new stake in shares of Planet Fitness during the first quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth about $33,000. Global Retirement Partners LLC boosted its position in shares of Planet Fitness by 29.7% during the 4th quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. Finally, CWM LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 93.87% of the company’s shares.
About Planet Fitness (Download Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through franchise, corporate stores and equipment segments. The Franchise segment is involved in franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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