Macquarie Reaffirms "Neutral" Rating for Planet Fitness (NYSE:PLNT)

Macquarie reissued their neutral rating on shares of Planet Fitness (NYSE:PLNT - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. Macquarie currently has a $95.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets lifted their price target on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Guggenheim reiterated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday. Roth Mkm reiterated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group assumed coverage on Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.00.

Planet Fitness Trading Up 1.0%

PLNT traded up $0.95 during trading hours on Tuesday, hitting $98.93. The company's stock had a trading volume of 958,287 shares, compared to its average volume of 1,407,312. Planet Fitness has a fifty-two week low of $60.56 and a fifty-two week high of $110.00. The firm has a market capitalization of $8.38 billion, a PE ratio of 53.19, a PEG ratio of 2.45 and a beta of 1.33. The company has a 50-day simple moving average of $96.47 and a 200 day simple moving average of $98.19.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The firm's revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group boosted its position in shares of Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after buying an additional 118 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares during the period. R Squared Ltd acquired a new stake in shares of Planet Fitness in the fourth quarter worth $39,000. UMB Bank n.a. boosted its position in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares during the period. Finally, CoreCap Advisors LLC boosted its position in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares during the period. 95.53% 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 brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.