Fitness

Planet Fitness, Inc

Parts of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) have earned a consensus of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $90.67.

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Several research analysts have weighed in on PLNT shares. stocknews.com initiated coverage on shares of Planet Fitness in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price target on Planet Fitness from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 27th. Cowen boosted their price target on Planet Fitness from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Robert W. Baird lifted their price target on Planet Fitness from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Finally, Piper Sandler lifted their price target on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, December 22nd.

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Shares of PLNT stock opened at $76.39 on Wednesday. The firm has a 50-day moving average of $79.28 and a 200-day moving average of $73.84. The company has a market cap of $6.83 billion, a cash-to-earnings ratio of 65.29, a price-to-earnings ratio of 1.44 and a beta of 1.30. Planet Fitness has a 52 week low of $54.15 and a 52 week high of $88.31.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Fitness Planet had a net margin of 10.61% and a negative return on equity of 65.39%. The business had revenue of $281.30 million for the quarter, compared to analyst expectations of $271.48 million. During the same period last year, the company posted $0.26 earnings per share. Business quarterly revenue was up 53.2% on a year-over-year basis. Analysts expect Planet Fitness to post 2.2 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the business. Collected Bank boosted its position in Planet Fitness by 0.8% in the fourth quarter. Amalgamated Bank now owns 18,349 shares of the company’s stock worth $1,446,000 after purchasing an additional 149 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Planet Fitness by 13.4% in the first quarter. PNC Financial Services Group Inc. He now owns 1,332 shares of the company’s stock valued at $112,000 after buying an additional 157 shares during the period. Truist Financial Corp lifted its stake in shares of Planet Fitness by 0.6% in the third quarter. Truist Financial Corp now owns 38,704 shares of the company’s stock valued at $2,231,000 after buying an additional 215 shares during the period. Royal Bank of Canada raised its stake in shares of Planet Fitness by 1.1% in the third quarter. Royal Bank of Canada now owns 19,590 shares of the company’s stock valued at $1,129,000 after buying an additional 216 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Planet Fitness by 23.0% in the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 94.56% of the company’s stock.

On Planet Fitness

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Planet Fitness, Inc., is engaged in the operation and franchising of fitness centers. It operates through the following segments: Delivery, Corporate-Owned Stores, and Equipment. The franchise segment involves the company’s franchise operations in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

This moment-focused news report is generated from a collection of technology science and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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Ava Grey

Hi there! I'm Ava Grey, an enthusiastic article writer with a passion for the arts, fashion, and staying informed about current events. As a journalism student at the New York Academy of Art, I'm driven to use my writing to create positive change and spark meaningful conversations. I'm particularly interested in contemporary art and sustainable fashion, and I love exploring how people use these mediums to express themselves and communicate their values. I believe that staying informed and hearing different perspectives is essential for personal growth and learning, and I'm always eager to engage in lively debates and discussions.

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