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

Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $106.63.

A number of equities analysts have issued reports on the company. Guggenheim reiterated a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. BMO Capital Markets increased their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Morgan Stanley increased their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Macquarie reissued a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th.

Institutional Trading of Planet Fitness

Hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its holdings in Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after buying an additional 2,570,826 shares during the period. Invesco Ltd. increased its holdings in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after buying an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock valued at $317,810,000 after buying an additional 1,268,262 shares during the period. Norges Bank bought a new position in Planet Fitness in the 4th quarter valued at about $100,009,000. Finally, Ninety One UK Ltd increased its holdings in Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after buying an additional 806,023 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 0.9%

PLNT stock opened at $106.83 on Tuesday. The business's fifty day moving average is $102.98 and its 200-day moving average is $100.59. The company has a market cap of $8.99 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.33. Planet Fitness has a twelve month low of $68.75 and a twelve month high of $110.95.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Research 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.