Planet Fitness (NYSE:PLNT) Price Target Lowered to $82.00 at Stifel Nicolaus

Planet Fitness (NYSE:PLNT) had its price objective decreased by Stifel Nicolaus from $90.00 to $82.00 in a research note released on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research firms also recently weighed in on PLNT. Macquarie decreased their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Robert W. Baird increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a report on Thursday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $92.50 on Friday. The business’s 50-day simple moving average is $102.28 and its 200-day simple moving average is $92.23. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $110.00. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the company posted $0.60 earnings per share. Planet Fitness’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the period. R Squared Ltd bought a new position in Planet Fitness during the 4th quarter worth approximately $39,000. CoreCap Advisors LLC grew its holdings in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in 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 in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter worth $57,000. 95.53% of the stock is owned by institutional investors and hedge funds.

About Planet Fitness

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.