Planet Fitness (NYSE:PLNT) Given Buy Rating at Roth Mkm

Planet Fitness (NYSE:PLNT)‘s stock had its “buy” rating reissued by equities researchers at Roth Mkm in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $115.00 target price on the stock, up from their previous target price of $110.00. Roth Mkm’s price target suggests a potential upside of 26.78% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Raymond James lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Stifel Nicolaus upped 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. JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley upped their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $99.38.

Planet Fitness Price Performance

Shares of NYSE:PLNT traded up $0.59 during midday trading on Wednesday, hitting $90.71. 1,007,361 shares of the company’s stock were exchanged, compared to its average volume of 1,553,352. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The company has a market cap of $7.67 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The stock has a 50 day moving average price of $102.57 and a 200-day moving average price of $92.25.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, analysts anticipate that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its position in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the period. Ninety One UK Ltd bought a new stake in Planet Fitness during the 4th quarter valued at about $130,376,000. Norges Bank bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $100,009,000. FMR LLC lifted its position in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in Planet Fitness by 103.4% during the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company’s stock valued at $1,104,000 after purchasing an additional 340,370 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.