PlanetFitness (NYSE:PLNT – GetRating) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Wednesday, briefing.com reports. The brokerage presently has a $90.00 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 32.80% from the stock’s current price.
Several other equity analysts have also issued reports on PLNT. TheStreet lowered Planet Fitness from a “b-” rating to a “c” rating in a report on Thursday, February 24th. Morgan Stanley increased their price target on Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, January 12th. DA Davidson increased their price target on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 12th. Evercore ISI began coverage on Planet Fitness in a report on Monday, March 14th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price objective for the company. in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $102.91.
Shares of NYSE PLNT opened at $67.77 on Wednesday. The stock has a market capitalization of $6.17 billion, a PE ratio of 130.33, a P/E/G ratio of 2.46 and a beta of 1.16. The business has a fifty day moving average price of $82.11 and a two-hundred day moving average price of $85.86. Planet Fitness has a fifty-two week low of $67.39 and a fifty-two week high of $99.60.
PlanetFitness (NYSE:PLNT – GetRating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping 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 business had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. During the same quarter in the previous year, the company posted $0.10 EPS. Planet Fitness’s quarterly revenue was up 66.8% compared to the same quarter last year. As a group, equities research analysts expect that Planet Fitness will post 1.52 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Liberty Wealth Management LLC lifted its stake in Planet Fitness by 388.6% during the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after purchasing an additional 272 shares during the last quarter. Or Dell Group LLC bought a new stake in Planet Fitness during the first quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in Planet Fitness during the fourth quarter worth about $33,000. Pinnacle Holdings LLC bought a new stake in Planet Fitness during the third quarter worth about $30,000. Finally, Manchester Capital Management LLC bought a new stake in Planet Fitness during the third quarter worth about $35,000. Institutional investors own 93.87% of the company’s stock.
About Planet Fitness (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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