Planet Fitness (NYSE:PLNT) Cut to "Hold" at Stifel Nicolaus

Planet Fitness (NYSE:PLNT - Get Free Report) was downgraded by investment analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $70.00 price objective on the stock, down from their prior price objective of $80.00. Stifel Nicolaus' price objective suggests a potential upside of 7.78% from the stock's current price.

Several other brokerages have also recently issued reports on PLNT. DA Davidson reiterated a "neutral" rating and set a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Morgan Stanley reiterated an "overweight" rating and issued a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. JPMorgan Chase & Co. cut 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 report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.43.

Planet Fitness Stock Down 0.6 %

Planet Fitness stock traded down $0.37 during mid-day trading on Friday, hitting $64.95. 2,388,457 shares of the company's stock traded hands, compared to its average volume of 1,783,010. Planet Fitness has a one year low of $44.13 and a one year high of $75.86. The company has a market cap of $5.73 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.37. The firm has a 50 day moving average price of $61.48 and a 200 day moving average price of $65.21.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, analysts expect that Planet Fitness will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in PLNT. Asset Management One Co. Ltd. lifted its stake in Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company's stock valued at $73,000 after acquiring an additional 148 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Planet Fitness by 1.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company's stock valued at $1,026,000 after purchasing an additional 174 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Planet Fitness by 0.3% in the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company's stock valued at $4,203,000 after purchasing an additional 179 shares during the last quarter. Teacher Retirement System of Texas increased its position in Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company's stock worth $494,000 after buying an additional 182 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company's stock worth $1,841,000 after buying an additional 190 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

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.