Planet Fitness, Inc. (PLNT) Price Target Raised to $27.00 at Roth Capital
Planet Fitness, Inc. (NYSE:PLNT) had its price objective raised by stock analysts at Roth Capital from $23.00 to $27.00 in a research note issued on Monday. The firm presently has a “buy” rating on the stock. Roth Capital’s target price points to a potential upside of 14.75% from the stock’s previous close.
Several other research firms have also weighed in on PLNT. BidaskClub upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Imperial Capital boosted their target price on shares of Planet Fitness from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Tuesday, August 15th. Cowen and Company reiterated an “outperform” rating and set a $28.00 target price (up previously from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Finally, Jefferies Group LLC boosted their target price on shares of Planet Fitness from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Planet Fitness has a consensus rating of “Buy” and an average target price of $27.33.
Shares of Planet Fitness (NYSE PLNT) traded up 0.64% during mid-day trading on Monday, reaching $23.68. 207,218 shares of the company were exchanged. The company’s 50-day moving average is $23.25 and its 200 day moving average is $21.45. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $25.19. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 40.83 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts predict that Planet Fitness will post $0.47 EPS for the current year.
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Institutional investors have recently made changes to their positions in the stock. Princeton Alpha Management LP purchased a new position in shares of Planet Fitness during the first quarter valued at about $224,000. Capital Fund Management S.A. purchased a new position in shares of Planet Fitness during the first quarter valued at about $499,000. American Century Companies Inc. purchased a new position in shares of Planet Fitness during the first quarter valued at about $5,418,000. Capital One National Association increased its position in shares of Planet Fitness by 5.0% in the first quarter. Capital One National Association now owns 77,675 shares of the company’s stock valued at $1,497,000 after buying an additional 3,716 shares during the period. Finally, Geneva Advisors LLC purchased a new position in shares of Planet Fitness during the first quarter valued at about $753,000. 98.33% of the stock is owned by institutional investors.
Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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