Planet Fitness (NYSE:PLNT) Receives Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Planet Fitness (NYSE:PLNT) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $115.00 target price on the stock, up from their previous target price of $110.00.

PLNT has been the subject of several other research reports. Morgan Stanley upped 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. Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday. Macquarie restated a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. DA Davidson restated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price objective 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. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.38.

Planet Fitness Price Performance

PLNT stock opened at $90.52 on Wednesday. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $110.00. The firm has a fifty day moving average price of $102.44 and a two-hundred day moving average price of $92.24. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The business 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 company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently bought and sold shares of PLNT. T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the last quarter. Ninety One UK Ltd acquired a new stake in Planet Fitness in the 4th quarter valued at about $130,376,000. Norges Bank acquired a new stake in Planet Fitness in the 4th quarter valued at about $100,009,000. FMR LLC lifted its holdings in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in Planet Fitness by 103.4% in the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company’s stock valued at $1,104,000 after acquiring an additional 340,370 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

About Planet Fitness

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.