Planet Fitness, Inc. (NYSE:PLNT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have assigned Planet Fitness, Inc. (NYSE:PLNT) an average recommendation of "Moderate Buy", with twelve out of sixteen analysts issuing buy ratings.
• The company's recent quarterly earnings showed a 13.3% year-over-year revenue increase to $340.88 million, surpassing analyst expectations.
• Institutional investors hold a significant share of Planet Fitness stock, with 95.53% of shares owned by institutional entities, reflecting strong confidence in the company's performance.

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the sixteen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $107.3750.

PLNT has been the topic of several recent research reports. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research report on Monday, May 12th. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Macquarie restated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th.

Planet Fitness Price Performance

Planet Fitness stock opened at $105.49 on Wednesday. Planet Fitness has a one year low of $77.77 and a one year high of $114.47. The stock's fifty day moving average price is $108.36 and its two-hundred day moving average price is $101.86. The firm has a market cap of $8.89 billion, a PE ratio of 46.89, a price-to-earnings-growth ratio of 2.33 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same quarter last year, the company posted $0.71 EPS. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PLNT. Hudson Bay Capital Management LP purchased a new stake in Planet Fitness during the second quarter valued at about $10,805,000. Public Sector Pension Investment Board bought a new stake in shares of Planet Fitness in the second quarter worth about $3,957,000. Evergreen Capital Management LLC grew its stake in shares of Planet Fitness by 50.3% in the second quarter. Evergreen Capital Management LLC now owns 3,280 shares of the company's stock worth $358,000 after purchasing an additional 1,098 shares during the last quarter. Sea Cliff Partners Management LP boosted its position in Planet Fitness by 385.6% during the 2nd quarter. Sea Cliff Partners Management LP now owns 185,782 shares of the company's stock valued at $20,260,000 after acquiring an additional 147,527 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new stake in Planet Fitness during the 2nd quarter valued at approximately $221,000. Institutional investors own 95.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.