Planet Fitness, Inc. (NYSE:PLNT) Receives $97.69 Average Price Target from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Four research 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. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $97.69.

A number of research analysts have weighed in on PLNT shares. Morgan Stanley lifted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. DA Davidson reiterated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Wednesday, January 15th. Raymond James raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $101.07 on Friday. The firm’s 50 day simple moving average is $102.88 and its 200-day simple moving average is $90.88. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 2.68 and a beta of 1.53.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in 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 purchasing an additional 157 shares during the period. R Squared Ltd purchased a new stake in Planet Fitness during the 4th quarter worth approximately $39,000. V Square Quantitative Management LLC boosted its position in 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 buying an additional 201 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness in the fourth quarter worth $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds 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.