Planet Fitness (NYSE:PLNT) Now Covered by Analysts at UBS Group

Key Points

• UBS Group has initiated coverage on Planet Fitness, rating it a "buy" with a price target of $125.00, indicating a potential upside of 35.12% from its current price.
• The company recently reported earnings per share of $0.86 for its last quarter, surpassing analysts' estimates by $0.07, with a revenue of $340.88 million, a 13.3% increase year-over-year.
• Institutional investors hold 95.53% of Planet Fitness shares, with significant increases in stake by firms like T. Rowe Price and Vanguard Group in recent months.

Stock analysts at UBS Group began coverage on shares of Planet Fitness (NYSE:PLNT - Get Free Report) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $125.00 price target on the stock. UBS Group's price target points to a potential upside of 35.12% from the company's current price.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. Jefferies Financial Group reissued a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Planet Fitness in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $112.50.

Planet Fitness Price Performance

PLNT opened at $92.51 on Friday. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 41.12, a P/E/G ratio of 2.10 and a beta of 1.38. The firm's fifty day moving average price is $102.25 and its two-hundred day moving average price is $102.60. Planet Fitness has a 1 year low of $77.77 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities analysts anticipate that Planet Fitness will post 2.51 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Planet Fitness by 6.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after purchasing an additional 496,047 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after acquiring an additional 62,716 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $317,810,000 after buying an additional 1,268,262 shares during the period. Ninety One UK Ltd boosted its stake in Planet Fitness by 35.7% during the second quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company's stock worth $314,490,000 after acquiring an additional 759,227 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company's stock worth $277,369,000 after buying an additional 332,362 shares during the last quarter. 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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