Planet Fitness, Inc. (NYSE:PLNT) Receives Average Rating of "Moderate Buy" from Analysts

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has been given an average rating of "Moderate Buy" by the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $101.72.

Several equities analysts have weighed in on PLNT shares. Stifel Nicolaus dropped their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. DA Davidson reaffirmed a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Piper Sandler upped their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Macquarie decreased their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, BMO Capital Markets boosted their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st.

Planet Fitness Stock Down 0.6 %

NYSE PLNT traded down $0.55 during trading on Thursday, hitting $95.60. The stock had a trading volume of 1,090,070 shares, compared to its average volume of 1,413,666. The company has a market capitalization of $8.09 billion, a PE ratio of 51.40, a PEG ratio of 2.45 and a beta of 1.39. The firm has a 50 day moving average price of $95.69 and a 200 day moving average price of $96.80. Planet Fitness has a twelve month low of $58.51 and a twelve month high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness's revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, sell-side analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PLNT. T. Rowe Price Investment Management Inc. grew its position in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter valued at about $130,376,000. Norges Bank purchased a new stake in shares of Planet Fitness in the fourth quarter valued at about $100,009,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at about $54,384,000. Finally, Artemis Investment Management LLP boosted its holdings in shares of Planet Fitness by 253.5% in the first quarter. Artemis Investment Management LLP now owns 671,073 shares of the company's stock valued at $64,832,000 after acquiring an additional 481,263 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.