Planet Fitness (NYSE:PLNT) Earns Buy Rating from Guggenheim

Planet Fitness (NYSE:PLNT)‘s stock had its “buy” rating reaffirmed by Guggenheim in a report released on Thursday,Benzinga reports. They presently have a $105.00 target price on the stock. Guggenheim’s target price would indicate a potential upside of 13.51% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Raymond James upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Stifel Nicolaus upped their price target on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, Roth Mkm reiterated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Planet Fitness Stock Up 1.2 %

Shares of PLNT opened at $92.50 on Thursday. The business has a fifty day moving average of $102.28 and a 200 day moving average of $92.23. The company has a market cap of $7.82 billion, a PE ratio of 49.73, a P/E/G ratio of 2.45 and a beta of 1.53. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $110.00.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd bought a new stake in shares of Planet Fitness in the 4th quarter valued at about $39,000. CoreCap Advisors LLC grew its position in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of 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 acquiring an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Planet Fitness during the fourth quarter valued at approximately $57,000. 95.53% of the stock is 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.