Planet Fitness (NYSE:PLNT) Given New $80.00 Price Target at Raymond James

Planet Fitness (NYSE:PLNT - Free Report) had its price objective upped by Raymond James from $75.00 to $80.00 in a research note released on Friday, Benzinga reports. The firm currently has a strong-buy rating on the stock.

A number of other research firms also recently issued reports on PLNT. StockNews.com raised shares of Planet Fitness from a sell rating to a hold rating in a research note on Wednesday. DA Davidson reissued a neutral rating and set a $62.00 target price on shares of Planet Fitness in a research report on Thursday. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the company an overweight rating in a report on Thursday, January 11th. Stifel Nicolaus lowered shares of Planet Fitness from a buy rating to a hold rating and dropped their price objective for the stock from $80.00 to $70.00 in a research note on Friday. Finally, Royal Bank of Canada reduced their target price on shares of Planet Fitness from $80.00 to $77.00 and set an outperform rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $71.43.

Planet Fitness Stock Performance

Shares of PLNT traded down $0.37 during midday trading on Friday, hitting $64.95. 2,388,457 shares of the company traded hands, compared to its average volume of 1,723,720. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86. The firm has a 50 day moving average of $61.48 and a 200-day moving average of $65.21. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 1.93 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same period in the prior year, the company earned $0.41 earnings per share. The firm's revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Planet Fitness will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock worth $43,166,000 after buying an additional 351,401 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $389,000. Graham Capital Management L.P. acquired a new stake in shares of Planet Fitness in the 3rd quarter worth $944,000. Pacer Advisors Inc. grew its stake in Planet Fitness by 80.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company's stock worth $937,000 after buying an additional 5,719 shares during the last quarter. Finally, Diversified Trust Co increased its position in Planet Fitness by 3.4% during the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company's stock valued at $1,479,000 after buying an additional 659 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Company Profile

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.