Imperial Capital Boosts Planet Fitness, Inc. (PLNT) Price Target to $28.00
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.
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