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

Key Points

• Planet Fitness, Inc. has received a consensus recommendation of “Moderate Buy” from fourteen analysts, with a one-year target price averaging $108.64.
• The company's recent quarterly earnings report showed an EPS of $0.86, exceeding estimates, along with a revenue increase of 13.3% year-over-year.
• Institutional investors hold 95.53% of Planet Fitness's stock, indicating strong support and confidence in the company’s performance.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $108.6429.

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $126.00 target price on shares of Planet Fitness in a research report on Monday, September 15th.

Planet Fitness Price Performance

NYSE:PLNT opened at $101.12 on Friday. Planet Fitness has a one year low of $77.77 and a one year high of $114.47. The company has a market cap of $8.52 billion, a P/E ratio of 44.94, a P/E/G ratio of 2.25 and a beta of 1.37. The firm's fifty day moving average price is $106.57 and its two-hundred day moving average price is $102.44.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, equities research analysts expect that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Planet Fitness by 6.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after acquiring an additional 496,047 shares during the period. Vanguard Group Inc. lifted its position in Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after purchasing an additional 62,716 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd lifted its position in Planet Fitness by 35.7% during the second quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company's stock worth $314,490,000 after purchasing an additional 759,227 shares during the period. Finally, Invesco Ltd. lifted its position in Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company's stock worth $277,369,000 after purchasing an additional 332,362 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.

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