StockNews.com cut shares of Planet Fitness (NYSE:PLNT – Free Report) from a hold rating to a sell rating in a research note released on Tuesday.
Several other equities analysts also recently weighed in on PLNT. JPMorgan Chase & Co. dropped their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a neutral rating on the stock in a research note on Monday, February 26th. DA Davidson reaffirmed a neutral rating and set a $62.00 price objective on shares of Planet Fitness in a research note on Monday, February 5th. Piper Sandler raised their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an overweight rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an outperform rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley reiterated an overweight rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $71.00.
View Our Latest Stock Report on Planet Fitness
Planet Fitness Trading Down 1.2 %
Shares of PLNT opened at $63.30 on Tuesday. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $84.48. The firm has a fifty day moving average price of $64.67 and a 200-day moving average price of $63.09. The firm has a market capitalization of $5.58 billion, a P/E ratio of 39.07, a P/E/G ratio of 1.26 and a beta of 1.39.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Analysts predict that Planet Fitness will post 2.48 earnings per share 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 company. PNC Financial Services Group Inc. grew its holdings in Planet Fitness by 58.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,530 shares of the company’s stock worth $185,000 after acquiring an additional 931 shares during the period. Vanguard Group Inc. grew its holdings in Planet Fitness by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock worth $589,606,000 after acquiring an additional 196,809 shares during the period. Wellington Management Group LLP acquired a new position in Planet Fitness during the fourth quarter worth $19,749,000. Quarry LP acquired a new position in Planet Fitness during the fourth quarter worth $25,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Planet Fitness by 1,940.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,375,780 shares of the company’s stock worth $100,433,000 after acquiring an additional 1,308,347 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Planet Fitness Company Profile
(Get Free Report)
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.
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