Planet Fitness (NYSE:PLNT) PT Set at $120.00 by Stifel Nicolaus

Planet Fitness (NYSE:PLNT - Get Free Report) received a $120.00 target price from investment analysts at Stifel Nicolaus in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 13.91% from the stock's previous close.

Several other brokerages also recently weighed in on PLNT. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. BMO Capital Markets upped their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Morgan Stanley boosted their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, Guggenheim reiterated a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Planet Fitness has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

Planet Fitness Stock Performance

Shares of PLNT stock traded up $0.54 during mid-day trading on Thursday, reaching $105.34. 1,539,662 shares of the company's stock traded hands, compared to its average volume of 1,405,230. Planet Fitness has a 12 month low of $60.56 and a 12 month high of $110.00. The firm has a 50 day moving average price of $97.27 and a two-hundred day moving average price of $99.15. The firm has a market capitalization of $8.87 billion, a PE ratio of 56.64, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data 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). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. During the same period in the previous year, the firm earned $0.53 EPS. The company's revenue was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently added to or reduced their stakes in PLNT. Brooklyn Investment Group grew its holdings in Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after purchasing an additional 118 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after purchasing an additional 242 shares during the last quarter. R Squared Ltd bought a new position in Planet Fitness during the 4th quarter valued at about $39,000. UMB Bank n.a. grew its holdings in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. Finally, CoreCap Advisors LLC grew 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 valued at $48,000 after purchasing an additional 450 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.