Stifel Nicolaus Lowers Planet Fitness (NYSE:PLNT) Price Target to $82.00

Planet Fitness (NYSE:PLNT) had its price objective cut by equities research analysts at Stifel Nicolaus from $90.00 to $82.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 10.44% from the company’s previous close.

PLNT has been the subject of several other research reports. Robert W. Baird boosted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday. Piper Sandler upped their price objective on shares of 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 lifted their target price 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, DA Davidson reissued a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $91.56 on Friday. Planet Fitness has a 1 year low of $54.35 and a 1 year high of $110.00. The business has a 50 day moving average price of $102.28 and a 200 day moving average price of $92.23. The company has a market capitalization of $7.75 billion, a P/E ratio of 49.22, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the business posted $0.60 earnings per share. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its position in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd acquired a new position in shares of Planet Fitness during the fourth quarter worth $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 acquiring an additional 450 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position 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 valued at $53,000 after acquiring an additional 490 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

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.