Planet Fitness (NYSE:PLNT) Earns "Buy" Rating from Guggenheim

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Guggenheim in a research report issued on Monday,Benzinga reports. They presently have a $110.00 price objective on the stock. Guggenheim's target price would indicate a potential upside of 16.53% from the company's previous close.

A number of other brokerages also recently issued reports on PLNT. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. BMO Capital Markets lifted 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 reissued an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Stifel Nicolaus decreased their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, DA Davidson reiterated a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.00.

Planet Fitness Trading Up 1.7%

Shares of PLNT stock traded up $1.59 during trading hours on Monday, reaching $94.40. 496,532 shares of the company's stock were exchanged, compared to its average volume of 1,403,466. Planet Fitness has a 1 year low of $60.56 and a 1 year high of $110.00. The stock has a market cap of $7.99 billion, a PE ratio of 50.76, a PEG ratio of 2.45 and a beta of 1.33. The stock's fifty day moving average price is $96.30 and its two-hundred day moving average price is $97.88.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued 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 period in the prior year, the firm posted $0.53 EPS. The business's revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors have recently modified their holdings of PLNT. Vanguard Group Inc. boosted its position in Planet Fitness by 0.8% during the first 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. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 valued at $782,169,000 after acquiring an additional 2,570,826 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after acquiring an additional 36,803 shares during the last quarter. Ninety One UK Ltd grew its holdings in Planet Fitness by 61.1% in the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after purchasing an additional 806,023 shares during the period. Finally, Anomaly Capital Management LP increased its position in Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after purchasing an additional 299,148 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.

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