Planet Fitness (NYSE:PLNT) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Planet Fitness (NYSE:PLNT) in a research report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $120.00 target price on the stock.

A number of other analysts also recently issued reports on PLNT. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley boosted their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Raymond James lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.38.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $90.52 on Monday. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 2.45 and a beta of 1.53. The firm has a fifty day moving average price of $102.44 and a 200 day moving average price of $92.24. Planet Fitness has a fifty-two week low of $54.35 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue was up 19.4% on a year-over-year basis. As a group, research analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $39,000. CoreCap Advisors LLC boosted its holdings in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the period. Proficio Capital Partners LLC bought a new position in Planet Fitness in the fourth quarter worth approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the period. 95.53% of the stock is currently owned by institutional investors.

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.