Macquarie Reiterates Neutral Rating for Planet Fitness (NYSE:PLNT)

Planet Fitness (NYSE:PLNT)‘s stock had its “neutral” rating reissued by investment analysts at Macquarie in a report issued on Friday, MarketBeat Ratings reports. They presently have a $99.00 price target on the stock, up from their previous price target of $91.00. Macquarie’s price target would indicate a potential upside of 3.87% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Piper Sandler raised their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada upped their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Stock Up 1.2 %

Shares of PLNT stock opened at $95.31 on Friday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $98.59. The company has a market cap of $8.12 billion, a PE ratio of 51.24, a price-to-earnings-growth ratio of 2.84 and a beta of 1.49. The business’s 50 day moving average is $81.75 and its two-hundred day moving average is $74.88.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. As a group, equities analysts expect that Planet Fitness will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently modified their holdings of PLNT. GAMMA Investing LLC grew its position in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the period. LRI Investments LLC increased its position in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP lifted its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares in the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness in the second quarter valued at about $82,000. Institutional investors own 95.53% of the company’s stock.

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.