PlanetFitness (NYSE:PLNT – GetRating) had its price objective dropped by equities research analysts at Piper Sandler from $87.00 to $72.00 in a report released on Wednesday, The Fly reports. Piper Sandler’s price target suggests a potential upside of 6.24% from the company’s current price.
A number of other brokerages have also commented on PLNT. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday. StockNews.com initiated coverage on Planet Fitness in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price target on the stock. in a report on Wednesday, March 2nd. TheStreet lowered Planet Fitness from a “b-” rating to a “c” rating in a report on Thursday, February 24th. Finally, Cowen raised Planet Fitness to a “hold” rating and raised their price target for the company from $100.00 to $110.00 in a report on Wednesday, January 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $98.83.
plnt stock opened at $67.77 on Wednesday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 130.33, a PEG ratio of 2.46 and a beta of 1.16. Planet Fitness has a 1 year low of $67.39 and a 1 year high of $99.60. The stock’s fifty day moving average is $82.11 and its two-hundred day moving average is $85.86.
PlanetFitness (NYSE:PLNT – GetRating) last posted its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Analysts predict that Planet Fitness will post 1.52 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of PLNT. Morgan Stanley increased its stake in Planet Fitness by 2.7% in the 2nd quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock worth $173,197,000 after purchasing an additional 60,746 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Planet Fitness by 1.3% in the 3rd 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 in the last quarter. Truist Financial Corp increased its stake in Planet Fitness by 1.3% in the 3rd quarter. Truist Financial Corp now owns 51,030 shares of the company’s stock worth $4,009,000 after purchasing an additional 656 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Planet Fitness in the 3rd quarter worth about $26,000. Finally, Swiss National Bank increased its stake in Planet Fitness by 0.7% in the 3rd quarter. Swiss National Bank now owns 183,885 shares of the company’s stock worth $14,444,000 after purchasing an additional 1,300 shares in the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
Planet Fitness Company Profile (GetRating)
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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