Planet Fitness' (PLNT) "Neutral" Rating Reaffirmed at DA Davidson

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at DA Davidson in a research report issued on Thursday, Benzinga reports. They currently have a $62.00 price target on the stock. DA Davidson's price target would indicate a potential downside of 4.54% from the company's previous close.

Several other analysts have also commented on PLNT. Piper Sandler increased their price target 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. StockNews.com upgraded Planet Fitness from a "sell" rating to a "hold" rating in a research report on Wednesday. Morgan Stanley restated an "overweight" rating and issued a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. Robert W. Baird boosted their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Royal Bank of Canada raised their target price on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $71.43.

Planet Fitness Stock Down 0.6 %

Shares of PLNT traded down $0.37 on Thursday, reaching $64.95. The stock had a trading volume of 2,388,457 shares, compared to its average volume of 1,783,010. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86. The firm has a market capitalization of $5.73 billion, a PE ratio of 40.09, a PEG ratio of 1.97 and a beta of 1.37. The firm has a 50-day moving average of $61.54 and a 200 day moving average of $65.29.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $249.48 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. Planet Fitness's revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Planet Fitness will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company's stock worth $26,000 after purchasing an additional 255 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness in the first quarter worth about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $47,000. Asset Management One Co. Ltd. grew its holdings in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company's stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company's stock worth $73,000 after purchasing an additional 197 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other 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.