Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $101.17

Shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) have been assigned a consensus rating of “Buy” from the fourteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $101.17.

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, January 12th. Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 target price on the stock. in a research report on Wednesday, March 2nd. DA Davidson lifted their target price on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 12th. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $88.00 to $90.00 in a research note on Friday, January 14th. Finally, StockNews.com began coverage on shares of Planet Fitness in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

A number of large investors have recently modified their holdings of the stock. Moors & Cabot Inc. acquired a new stake in shares of Planet Fitness during the third quarter worth $26,000. Liberty Wealth Management LLC raised its holdings in Planet Fitness by 388.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after acquiring an additional 272 shares during the period. Pinnacle Holdings LLC purchased a new position in Planet Fitness in the third quarter worth $30,000. Lazard Asset Management LLC purchased a new stake in Planet Fitness during the fourth quarter valued at about $33,000. Finally, Manchester Capital Management LLC bought a new position in shares of Planet Fitness during the third quarter valued at about $35,000. 98.33% of the stock is owned by institutional investors and hedge funds.

NYSE:PLNT traded up $0.61 during mid-day trading on Wednesday, reaching $83.67. 542,036 shares of the stock were exchanged, compared to its average volume of 973,858. The company has a 50 day simple moving average of $85.01 and a 200-day simple moving average of $86.04. Planet Fitness has a 1 year low of $67.89 and a 1 year high of $99.60. The stock has a market capitalization of $7.62 billion, a P/E ratio of 160.16, a P/E/G ratio of 2.73 and a beta of 1.19.

Planet Fitness (NYSE:PLNTGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The business had revenue of $183.60 million during the quarter, compared to the consensus estimate of $179.03 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 37.2% on a year-over-year basis. Sell-side analysts expect that Planet Fitness will post 1.52 EPS for the current fiscal year.

About Planet Fitness (Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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