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

Key Points

• Planet Fitness has received an average recommendation of "Moderate Buy" from fifteen ratings firms, with twelve recommending a buy and one a strong buy.
• The stock's average 12-month price target among analysts is approximately $111.54, reflecting positive sentiment about the company's performance.
• Planet Fitness reported $0.86 earnings per share for the last quarter, exceeding the consensus estimate of $0.79 and showing a year-over-year revenue increase of 13.3%.

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $111.5385.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Planet Fitness in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its stake in Planet Fitness by 6.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock worth $812,213,000 after purchasing an additional 496,047 shares in the last quarter. Vanguard Group Inc. grew its stake in Planet Fitness by 0.8% during the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Planet Fitness by 62.7% during the 1st 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 in the last quarter. Ninety One UK Ltd grew its stake in Planet Fitness by 35.7% during the 2nd 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 in the last quarter. Finally, Invesco Ltd. grew its stake in Planet Fitness by 15.0% during the 2nd 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 in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Down 0.6%

NYSE:PLNT opened at $94.20 on Thursday. Planet Fitness has a 52 week low of $77.77 and a 52 week high of $114.47. The stock's fifty day moving average is $102.51 and its two-hundred day moving average is $102.63. The company has a market capitalization of $7.93 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.11 and a beta of 1.38.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the firm posted $0.71 earnings per share. The company's revenue was up 13.3% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

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.

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