Royal Bank Of Canada Forecasts Strong Price Appreciation for Planet Fitness (NYSE:PLNT) Stock

Planet Fitness (NYSE:PLNT) had its target price lifted by Royal Bank Of Canada from $110.00 to $115.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 8.45% from the company’s previous close.

Several other research analysts have also commented on the company. Morgan Stanley lifted their price target on Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Stifel Nicolaus set a $125.00 target price on shares of Planet Fitness in a report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a research report on Monday, September 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.71.

Planet Fitness Trading Up 2.7%

NYSE:PLNT traded up $2.80 during midday trading on Friday, hitting $106.04. 1,489,644 shares of the company were exchanged, compared to its average volume of 1,446,819. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The company has a market capitalization of $8.93 billion, a PE ratio of 47.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. The company has a fifty day simple moving average of $98.63 and a 200 day simple moving average of $102.63.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The company had revenue of $444.02 million for the quarter, compared to analyst estimates of $323.95 million. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities research analysts expect that Planet Fitness will post 2.51 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of large investors have recently modified their holdings of the business. Game Plan Financial Advisors LLC acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its position in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after acquiring an additional 241 shares in the last quarter. Brooklyn Investment Group raised its position in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after acquiring an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after acquiring an additional 214 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in shares of Planet Fitness by 6,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after purchasing an additional 417 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.