Planet Fitness (NYSE:PLNT) Given Neutral Rating at Macquarie

Macquarie reissued their neutral rating on shares of Planet Fitness (NYSE:PLNT) in a research note published on Friday morning, MarketBeat Ratings reports. The firm currently has a $99.00 price target on the stock, up from their previous price target of $91.00.

Several other analysts also recently issued reports on PLNT. Stifel Nicolaus boosted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler lifted their target price on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average price target of $91.81.

Planet Fitness Stock Down 0.1 %

Shares of Planet Fitness stock opened at $95.19 on Friday. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $98.59. The firm has a market capitalization of $8.11 billion, a PE ratio of 51.18, a price-to-earnings-growth ratio of 3.18 and a beta of 1.49. The stock’s fifty day moving average is $82.03 and its 200-day moving average is $75.22.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Planet Fitness will post 2.47 EPS 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. William Blair Investment Management LLC bought a new stake in Planet Fitness during the second quarter valued at about $166,978,000. Anomaly Capital Management LP acquired a new stake in Planet Fitness in the 2nd quarter valued at approximately $106,795,000. Point72 Asset Management L.P. increased its position in Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares during the period. Steadfast Capital Management LP lifted its holdings in shares of Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after buying an additional 682,863 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Planet Fitness by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after acquiring an additional 483,586 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.