Planet Fitness, Inc. (NYSE:PLNT) had its price objective boosted by stock analysts at Imperial Capital to $28.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Imperial Capital’s target price points to a potential upside of 17.30% from the company’s current price.

Several other research firms have also commented 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 downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Roth Capital set a $23.00 target price on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and set a $28.00 target price (up previously from $23.00) on shares of Planet Fitness in a research report 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 stock a “buy” rating in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.89.

Planet Fitness (NYSE PLNT) traded down 1.69% during midday trading on Tuesday, hitting $23.87. 1,456,962 shares of the stock were exchanged. The firm’s 50 day moving average price is $23.23 and its 200 day moving average price is $21.37. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $25.19. The company has a market cap of $2.04 billion, a PE ratio of 41.16 and a beta of 0.90.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. Planet Fitness’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities research analysts forecast that Planet Fitness will post $0.47 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in PLNT. Bank of New York Mellon Corp increased its stake in Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock valued at $94,002,000 after buying an additional 3,381,810 shares during the period. BlackRock Inc. increased its stake in Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after buying an additional 2,496,984 shares during the period. Junto Capital Management LP acquired a new stake in Planet Fitness during the second quarter valued at approximately $37,227,000. DSAM Partners London Ltd acquired a new stake in Planet Fitness during the second quarter valued at approximately $36,383,000. Finally, Vanguard Group Inc. increased its stake in Planet Fitness by 30.2% in the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock valued at $151,286,000 after buying an additional 1,504,593 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

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.

The Fly

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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