Planet Fitness (NYSE:PLNT) Sets New 1-Year High - Time to Buy?

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $112.03 and last traded at $111.28, with a volume of 1068614 shares. The stock had previously closed at $110.43.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLNT. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Guggenheim reissued a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. Morgan Stanley lifted their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Macquarie reiterated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Finally, Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Performance

The business's 50 day moving average price is $103.90 and its two-hundred day moving average price is $100.79. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of 52.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in shares of Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after buying an additional 118 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after purchasing an additional 242 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after buying an additional 387 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Planet Fitness in the 4th quarter valued at $51,000. Institutional investors own 95.53% of the company's stock.

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.