Macquarie Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price target cut by equities researchers at Macquarie from $99.00 to $95.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s target price suggests a potential upside of 3.57% from the stock’s current price.

Several other research analysts have also commented on PLNT. Raymond James raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price target on Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $99.47.

Planet Fitness Stock Performance

Shares of NYSE:PLNT traded up $1.11 during trading on Thursday, reaching $91.73. 1,055,725 shares of the stock were exchanged, compared to its average volume of 1,600,039. The firm’s 50-day moving average price is $102.44 and its 200 day moving average price is $92.24. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Planet Fitness’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

Several large investors have recently modified their holdings of PLNT. UMB Bank n.a. increased its holdings in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $39,000. CoreCap Advisors LLC increased its holdings in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Planet Fitness during the fourth quarter worth $57,000. 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.