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

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $105.76.

A number of brokerages recently issued reports on PLNT. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Roth Mkm reiterated a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Planet Fitness in the fourth quarter valued at about $11,963,000. Freestone Grove Partners LP acquired a new stake in shares of Planet Fitness in the fourth quarter valued at $25,676,000. Jump Financial LLC bought a new position in shares of Planet Fitness in the fourth quarter valued at about $965,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Planet Fitness during the 4th quarter worth about $3,378,000. Finally, Raymond James Financial Inc. bought a new stake in Planet Fitness during the 4th quarter worth about $2,988,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Down 1.4%

PLNT stock traded down $1.49 during midday trading on Friday, hitting $102.59. 1,051,124 shares of the company's stock were exchanged, compared to its average volume of 1,379,133. Planet Fitness has a 1-year low of $68.75 and a 1-year high of $110.00. The stock has a market capitalization of $8.64 billion, a PE ratio of 55.16, a P/E/G ratio of 2.45 and a beta of 1.33. The business has a 50-day simple moving average of $98.90 and a two-hundred day simple moving average of $99.78.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

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.