Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) Target Price at $122.27

Shares of Planet Fitness, Inc. (NYSE:PLNT) have received a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $122.2727.

A number of equities research analysts have recently commented on PLNT shares. William Blair reaffirmed an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Canaccord Genuity Group upped their price target on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. UBS Group reissued a “buy” rating on shares of Planet Fitness in a research report on Friday, January 9th. Finally, Morgan Stanley upped their target price on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, January 16th.

Institutional Trading of Planet Fitness

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Planet Fitness during the fourth quarter worth $27,000. Hantz Financial Services Inc. increased its stake in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Planet Fitness during the 4th quarter worth about $41,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $90.63 on Wednesday. The stock has a market capitalization of $7.55 billion, a PE ratio of 36.99, a PEG ratio of 1.39 and a beta of 1.26. The business’s 50 day simple moving average is $99.76 and its 200 day simple moving average is $101.69. Planet Fitness has a one year low of $87.44 and a one year high of $114.47.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.