Planet Fitness (NYSE:PLNT) Hits New 12-Month High - What's Next?

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $110.95 and last traded at $108.69, with a volume of 176607 shares trading hands. The stock had previously closed at $108.82.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLNT shares. Royal Bank Of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reiterated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley boosted their price target on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus price target of $105.76.

Planet Fitness Trading Down 0.8%

The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 2.42 and a beta of 1.33. The company's 50-day simple moving average is $100.54 and its 200-day simple moving average is $100.06.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The firm had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its stake in shares of 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. raised its holdings in Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after buying an additional 1,728,407 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after buying an additional 1,268,262 shares during the last quarter. Norges Bank bought a new position in shares of Planet Fitness in the fourth quarter valued at $100,009,000. Finally, Ninety One UK Ltd raised its holdings in shares of Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock worth $205,265,000 after acquiring an additional 806,023 shares during the last quarter. Institutional investors and hedge funds 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.