Planet Fitness (NYSE:PLNT - Get Free Report ) had its price objective lowered by Royal Bank of Canada from $80.00 to $77.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 18.55% from the company's previous close.
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Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating for the company in a research report on Monday, February 26th. StockNews.com raised Planet Fitness from a "sell" rating to a "hold" rating in a research report on Wednesday. DA Davidson reaffirmed a "neutral" rating and set a $62.00 target price on shares of Planet Fitness in a research note on Thursday. Stifel Nicolaus downgraded Planet Fitness from a "buy" rating to a "hold" rating and lowered their target price for the stock from $80.00 to $70.00 in a report on Friday. Finally, Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, January 11th. Seven research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.43.
Check Out Our Latest Research Report on PLNT
Planet Fitness Stock Performance Shares of Planet Fitness stock 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 1,783,010. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 1.97 and a beta of 1.37. The firm's fifty day moving average price is $61.54 and its 200-day moving average price is $65.29. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $75.86.
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. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. Equities research analysts forecast that Planet Fitness will post 2.49 earnings per share for the current year.
Institutional Trading of Planet Fitness A number of institutional investors and hedge funds have recently modified their holdings of PLNT. American Century Companies Inc. lifted its stake in Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock valued at $43,166,000 after purchasing an additional 351,401 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Planet Fitness during the 4th quarter worth $389,000. Graham Capital Management L.P. purchased a new stake in Planet Fitness in the 3rd quarter worth about $944,000. Pacer Advisors Inc. raised its stake in Planet Fitness by 80.4% in the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company's stock valued at $937,000 after acquiring an additional 5,719 shares during the period. Finally, Diversified Trust Co raised its stake in Planet Fitness by 3.4% in the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company's stock valued at $1,479,000 after acquiring an additional 659 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.
About Planet Fitness (
Get Free Report )
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.
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