Planet Fitness (NYSE:PLNT - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Tuesday.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, March 5th. Piper Sandler upped their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, January 11th. Stifel Nicolaus decreased their price target on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. DA Davidson reaffirmed a "neutral" rating and set a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.
Get Our Latest Stock Analysis on Planet Fitness
Planet Fitness Trading Down 0.4 %
NYSE PLNT traded down $0.23 on Tuesday, reaching $59.84. 2,102,568 shares of the stock were exchanged, compared to its average volume of 1,671,674. Planet Fitness has a one year low of $44.13 and a one year high of $84.48. The firm has a market capitalization of $5.28 billion, a PE ratio of 36.94, a PEG ratio of 1.96 and a beta of 1.39. The company's 50-day simple moving average is $61.89 and its two-hundred day simple moving average is $64.95.
Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company had revenue of $285.10 million for the quarter, compared to analysts' expectations of $282.35 million. During the same quarter last year, the business earned $0.53 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. Sell-side analysts forecast that Planet Fitness will post 2.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock worth $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 in the fourth quarter worth about $389,000. Graham Capital Management L.P. bought a new position in shares of Planet Fitness in the third quarter worth about $944,000. Pacer Advisors Inc. grew its holdings in shares of Planet Fitness by 80.4% in the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company's stock worth $937,000 after purchasing an additional 5,719 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Planet Fitness by 3.4% in the fourth quarter. Diversified Trust Co now owns 20,256 shares of the company's stock worth $1,479,000 after purchasing an additional 659 shares during the last quarter. Institutional investors own 95.53% of the company's stock.
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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