Planet Fitness (NYSE:PLNT – Get Free Report) had its target price cut by analysts at Morgan Stanley from $88.00 to $84.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 35.99% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their target price on Planet Fitness from $78.00 to $82.00 in a research report on Wednesday, June 14th. StockNews.com began coverage on shares of Planet Fitness in a report on Thursday, May 18th. They set a “hold” rating on the stock. Piper Sandler dropped their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research note on Thursday, June 22nd. VNET Group reaffirmed a “maintains” rating on shares of Planet Fitness in a research note on Friday, May 5th. Finally, DA Davidson dropped their price target on Planet Fitness from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.
Read Our Latest Report on Planet Fitness
Planet Fitness Trading Down 0.7 %
PLNT stock traded down $0.46 during mid-day trading on Friday, hitting $61.77. The stock had a trading volume of 1,463,973 shares, compared to its average volume of 1,212,969. The firm has a market capitalization of $5.51 billion, a P/E ratio of 49.62, a P/E/G ratio of 0.99 and a beta of 1.29. The firm has a fifty day simple moving average of $67.29 and a 200 day simple moving average of $73.99. Planet Fitness has a 52 week low of $54.15 and a 52 week high of $85.90.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.54 by $0.11. The business had revenue of $286.50 million during the quarter, compared to the consensus estimate of $251.99 million. Planet Fitness had a net margin of 10.86% and a negative return on equity of 73.81%. The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, equities analysts expect that Planet Fitness will post 2.16 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Planet Fitness during the 4th quarter worth about $589,000. Swiss National Bank boosted its holdings in shares of Planet Fitness by 1.0% during the 4th quarter. Swiss National Bank now owns 203,385 shares of the company’s stock worth $16,027,000 after buying an additional 2,000 shares in the last quarter. Strs Ohio acquired a new stake in Planet Fitness in the fourth quarter worth $25,216,000. Raymond James & Associates increased its stake in Planet Fitness by 28.0% in the first quarter. Raymond James & Associates now owns 130,196 shares of the company’s stock valued at $10,112,000 after purchasing an additional 28,501 shares in the last quarter. Finally, UBS Group AG increased its position in Planet Fitness by 35.1% in the 4th quarter. UBS Group AG now owns 68,475 shares of the company’s stock valued at $5,396,000 after buying an additional 17,772 shares in the last quarter. Institutional investors and hedge funds own 95.82% of the company’s stock.
About Planet Fitness
(Get Free Report)
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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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