Planet Fitness (NYSE: PLNT – Get Rating) had its target price lowered by Robert W. Baird from $ 108.00 to $ 92.00 in a report released on Wednesday, The Fly reports. Robert W. Baird’s target price suggests a potential upside of 35.75% from the company’s previous close.
Other research analyzes have also issued reports about the stock. Piper Sandler dropped their price objective on shares of Planet Fitness from $ 87.00 to $ 72.00 in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $ 90.00 price target on the stock in a research report on Wednesday. Zacks Investment Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating and set a $ 70.00 price objective for the company. in a research note on Wednesday, March 2nd. DA Davidson lifted their target price on Planet Fitness from $ 105.00 to $ 110.00 and gave the company a “buy” rating in a research report on Wednesday, January 12th. Finally, Morgan Stanley raised their price objective on Planet Fitness from $ 101.00 to $ 106.00 and gave the company an “overweight” rating in a research note on Wednesday, January 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Planet Fitness currently has a consensus rating of “Buy” and an average price target of $ 98.83.
Shares of PLNT opened at $ 67.77 on Wednesday. The stock has a 50-day moving average of $ 82.11 and a 200-day moving average of $ 85.86. Planet Fitness has a one year low of $ 67.39 and a one year high of $ 99.60. The company has a market cap of $ 6.17 billion, a PE ratio of 130.33, a P / E / G ratio of 2.46 and a beta of 1.16.
Planet Fitness (NYSE: PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $ 0.32 EPS for the quarter, beating analysts’ consensus estimates of $ 0.27 by $ 0.05. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The firm had revenue of $ 186.70 million during the quarter, compared to analysts’ expectations of $ 190.44 million. During the same quarter last year, the firm posted $ 0.10 earnings per share. The company’s revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts predict that Planet Fitness will post 1.52 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of PLNT. Morgan Stanley boosted its stake in Planet Fitness by 2.7% in the second quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock worth $ 173,197,000 after buying an additional 60,746 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Planet Fitness by 1.3% in the third quarter. Advisor Group Holdings Inc. now owns 58,447 shares of the company’s stock worth $ 4,644,000 after purchasing an additional 729 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Planet Fitness by 1.3% in the 3rd quarter. Truist Financial Corp now owns 51,030 shares of the company’s stock valued at $ 4,009,000 after acquiring an additional 656 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Planet Fitness during the 3rd quarter valued at about $ 26,000. Finally, Swiss National Bank grew its position in Planet Fitness by 0.7% during the 3rd quarter. Swiss National Bank now owns 183,885 shares of the company’s stock worth $ 14,444,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 93.87% of the company’s stock.
About Planet Fitness (Get Rating)
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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