Planet Fitness, Inc. (NYSE:PLNT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has received an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $97.69.

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Raymond James increased their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Macquarie reissued a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after buying an additional 157 shares during the period. R Squared Ltd purchased a new stake in Planet Fitness during the 4th quarter valued at approximately $39,000. V Square Quantitative Management LLC grew its stake in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Trading Down 1.6 %

Shares of NYSE PLNT opened at $101.88 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of 54.77, a PEG ratio of 2.68 and a beta of 1.53. The business’s fifty day simple moving average is $102.79 and its 200-day simple moving average is $90.60. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $110.00.

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.