Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Planet Fitness has received a consensus rating of "Moderate Buy" from sixteen research firms, with an average 1-year target price of $106.63.
• The company reported $0.59 earnings per share for the last quarter, missing estimates of $0.62, with revenues of $276.66 million.
• Institutional investors hold 95.53% of Planet Fitness's stock, indicating strong institutional backing for the company.

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $106.63.

A number of equities research analysts have recently commented on PLNT shares. Macquarie reiterated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Morgan Stanley increased their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $107.53 on Friday. The stock has a fifty day moving average price of $107.30 and a two-hundred day moving average price of $101.86. The firm has a market cap of $9.05 billion, a P/E ratio of 50.72, a PEG ratio of 2.44 and a beta of 1.40. Planet Fitness has a 1 year low of $68.75 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The firm had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. On average, research analysts predict that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

A number of hedge funds have recently modified their holdings of the company. AustralianSuper Pty Ltd bought a new stake in shares of Planet Fitness in the 2nd quarter worth approximately $41,428,000. Y Intercept Hong Kong Ltd bought a new position in Planet Fitness during the second quarter worth about $883,000. AlphaQuest LLC lifted its stake in Planet Fitness by 123.3% during the second quarter. AlphaQuest LLC now owns 5,296 shares of the company's stock worth $578,000 after purchasing an additional 2,924 shares during the period. Ethic Inc. lifted its stake in Planet Fitness by 19.6% during the second quarter. Ethic Inc. now owns 9,942 shares of the company's stock worth $1,081,000 after purchasing an additional 1,629 shares during the period. Finally, Cookson Peirce & Co. Inc. lifted its stake in Planet Fitness by 491.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 114,056 shares of the company's stock worth $12,438,000 after purchasing an additional 94,759 shares during the period. 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.

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.