Planet Fitness, Inc. (NYSE:PLNT) Receives $108.64 Average Target Price from Analysts

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 recommendation of "Moderate Buy" by the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $108.6429.

Several research analysts have issued reports on PLNT shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a research report on Monday, September 15th.

Planet Fitness Trading Up 0.1%

Shares of Planet Fitness stock traded up $0.07 during trading hours on Friday, hitting $101.86. 336,012 shares of the company were exchanged, compared to its average volume of 1,452,235. Planet Fitness has a 1 year low of $77.77 and a 1 year high of $114.47. The business has a 50-day moving average of $106.39 and a 200-day moving average of $102.53. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 2.25 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping 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 business had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLNT. Game Plan Financial Advisors LLC purchased a new position in Planet Fitness in the second quarter worth $25,000. Hantz Financial Services Inc. raised its position in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company's stock worth $29,000 after acquiring an additional 241 shares in the last quarter. Brooklyn Investment Group grew its holdings in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after purchasing an additional 242 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Hedge funds and other 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.