Weiss Ratings Reiterates Buy (B-) Rating for Planet Fitness (NYSE:PLNT)

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for Planet Fitness (NYSE:PLNT), reflecting positive analyst sentiment towards the stock.
• Planet Fitness has received multiple buy ratings from various brokerages, with a consensus price target of $111.54 and twelve analysts rating it as a Buy.
• The company's recent earnings report showed a revenue increase of 13.3% year-over-year, with earnings per share surpassing expectations.

Planet Fitness (NYSE:PLNT - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also issued reports on PLNT. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Planet Fitness in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.54.

Planet Fitness Stock Down 1.0%

Shares of PLNT stock opened at $95.85 on Wednesday. Planet Fitness has a twelve month low of $77.77 and a twelve month high of $114.47. The company has a market cap of $8.07 billion, a P/E ratio of 42.60, a P/E/G ratio of 2.15 and a beta of 1.38. The business has a fifty day simple moving average of $103.98 and a 200 day simple moving average of $102.83.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company's stock worth $29,000 after buying an additional 241 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of 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 buying an additional 118 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of 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 buying an additional 242 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 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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