Planet Fitness (NYSE:PLNT) had its price target reduced by Roth Capital from $86.00 to $75.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Roth Capital’s target price would suggest a potential upside of 9.62% from the stock’s current price.

PLNT has been the subject of several other research reports. ValuEngine cut Planet Fitness from a “hold” rating to a “sell” rating in a report on Tuesday. Imperial Capital raised Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 price target for the company in a report on Monday, October 14th. Berenberg Bank cut Planet Fitness from a “buy” rating to a “hold” rating and cut their price target for the company from $80.00 to $69.00 in a report on Tuesday, September 3rd. Finally, Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price target for the company. in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $76.50.

Shares of NYSE PLNT traded up $5.71 during trading hours on Friday, hitting $68.42. 4,475,984 shares of the company’s stock were exchanged, compared to its average volume of 1,258,349. Planet Fitness has a 1-year low of $48.00 and a 1-year high of $81.90. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.69 and a beta of 0.63. The company’s 50-day moving average price is $60.07 and its 200-day moving average price is $70.61.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, research analysts predict that Planet Fitness will post 1.57 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC grew its stake in shares of Planet Fitness by 4.7% in the 2nd quarter. Aperio Group LLC now owns 16,832 shares of the company’s stock valued at $1,219,000 after purchasing an additional 755 shares during the period. Cetera Advisors LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at approximately $332,000. Atria Investments LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at approximately $294,000. BBT Capital Management LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at approximately $231,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Planet Fitness by 96.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 150,217 shares of the company’s stock valued at $10,882,000 after purchasing an additional 73,573 shares during the period. Institutional investors own 88.97% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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