Morgan Stanley reiterated its overweight rating on shares of Planet Fitness (NYSE:PLNT – Free Report) in a research note published on Monday, Benzinga reported. Morgan Stanley currently has a $79.00 target price on the stock.
Other analysts have also recently issued research reports on the stock. Royal Bank of Canada boosted their target price on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an outperform rating in a report on Tuesday, March 5th. Piper Sandler boosted their target price on Planet Fitness from $88.00 to $89.00 and gave the company an overweight rating in a research report on Thursday, January 11th. Stifel Nicolaus reduced their target price on Planet Fitness from $85.00 to $80.00 and set a buy rating on the stock in a report on Friday, February 23rd. JPMorgan Chase & Co. cut their target price on Planet Fitness from $75.00 to $72.00 and set a neutral rating for the company in a research note on Monday, February 26th. Finally, StockNews.com raised Planet Fitness from a sell rating to a hold rating in a research note on Friday, January 12th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Moderate Buy and a consensus target price of $71.00, based on data from MarketBeat.
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Planet Fitness stock rose 2.3%
Shares of Planet Fitness stock opened at $64.10 on Monday. The stock has a market cap of $5.65 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $84.48. The company has a 50 day moving average of $64.88 and a 200 day moving average of $63.00.
Planet Fitness (NYSE:PLNT – Get Your Free Report ) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company’s revenue increased by 1.4% year-over-year. In the same quarter last year, the company earned $0.53 EPS. equities analysts anticipate that Planet Fitness will post 2.48 EPS for the current fiscal year.
Planet Fitness Institutional Trading
Hedge funds and other institutional investors have recently bought and sold stakes in the business. American Century Companies Inc. grew its stake in Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after purchasing an additional 351,401 shares in the last quarter. Graham Capital Management LP acquired a new position in Planet Fitness during the third quarter valued at approximately $944,000. Diversified Trust Co increased its holdings in shares of Planet Fitness by 3.4% during the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock valued at $1,479,000 after purchasing an additional 659 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Planet Fitness by 20.0% during the third quarter. Bamco Inc. NY now owns 1,200,000 shares of the company’s stock valued at $59,016,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in shares of Planet Fitness during the third quarter valued at $1,385,000. Institutional investors and hedge funds own 95.53% of the company’s shares.
Planet Fitness Company Profile
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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates in three segments: Franchising, Corporate Stores and Equipment. The company engages in franchise business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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