Planet Fitness (NYSE:PLNT) Given a $120.00 Price Target at Stifel Nicolaus

Planet Fitness (NYSE:PLNT - Get Free Report) has been given a $120.00 target price by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 17.67% from the stock's previous close.

Several other analysts have also recently commented on PLNT. Macquarie restated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. BMO Capital Markets lifted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Roth Mkm restated a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

Planet Fitness Price Performance

NYSE:PLNT traded down $3.42 during trading hours on Thursday, hitting $101.98. 698,639 shares of the company were exchanged, compared to its average volume of 1,402,629. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 54.65, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness has a 52-week low of $60.56 and a 52-week high of $110.00. The company's 50 day moving average price is $97.37 and its 200-day moving average price is $99.25.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its holdings in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after acquiring an additional 118 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after acquiring an additional 242 shares in the last quarter. R Squared Ltd purchased a new stake in Planet Fitness in the 4th quarter worth $39,000. UMB Bank n.a. increased its holdings in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after acquiring an additional 450 shares in 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.