Planet Fitness (NYSE:PLNT) Price Target Cut to $75.00 by Analysts at Roth Capital
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.
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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