Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Price Target at $71.00

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.00.

PLNT has been the topic of several research reports. DA Davidson reaffirmed a "neutral" rating and set a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. Royal Bank of Canada upped their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Monday, February 26th. StockNews.com upgraded shares of Planet Fitness from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Piper Sandler upped their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, January 11th.

Hedge Funds Weigh In On Planet Fitness

A number of large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Planet Fitness during the 4th quarter worth about $25,000. Allworth Financial LP lifted its stake in Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Planet Fitness in the 3rd quarter valued at about $27,000. Rockefeller Capital Management L.P. lifted its stake in Planet Fitness by 93.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company's stock valued at $35,000 after purchasing an additional 220 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the 4th quarter valued at about $47,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Price Performance

Shares of PLNT traded down $1.31 on Friday, hitting $61.29. The company's stock had a trading volume of 2,101,463 shares, compared to its average volume of 1,982,163. The company has a market capitalization of $5.40 billion, a PE ratio of 37.83, a PEG ratio of 1.23 and a beta of 1.39. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $84.48. The company has a 50 day moving average price of $63.70 and a 200 day moving average price of $64.06.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. Planet Fitness's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. On average, equities analysts forecast that Planet Fitness will post 2.48 EPS for the current year.

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.