Planet Fitness, Inc. (NYSE:PLNT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $29.00 price objective on the stock. Jefferies Group LLC’s target price suggests a potential upside of 12.75% from the company’s current price.

Other research analysts also recently issued research reports about the company. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Roth Capital increased their price target on Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. Cowen and Company reiterated an “outperform” rating and set a $28.00 price target (up previously from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Finally, Imperial Capital increased their price target on Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Planet Fitness has a consensus rating of “Buy” and an average price target of $27.33.

Planet Fitness (NYSE PLNT) traded up 1.069% on Thursday, reaching $25.995. The company had a trading volume of 228,415 shares. The stock’s 50-day moving average price is $25.49 and its 200-day moving average price is $22.68. The stock has a market capitalization of $2.23 billion, a P/E ratio of 44.819 and a beta of 0.85. Planet Fitness has a 12-month low of $19.17 and a 12-month high of $26.15.

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

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. 1st Global Advisors Inc. boosted its stake in Planet Fitness by 2.7% in the 1st quarter. 1st Global Advisors Inc. now owns 21,573 shares of the company’s stock worth $416,000 after purchasing an additional 561 shares during the period. Geneva Advisors LLC boosted its stake in Planet Fitness by 4.1% in the 2nd quarter. Geneva Advisors LLC now owns 40,691 shares of the company’s stock worth $950,000 after purchasing an additional 1,600 shares during the period. Wolverine Trading LLC boosted its stake in Planet Fitness by 24.5% in the 2nd quarter. Wolverine Trading LLC now owns 11,704 shares of the company’s stock worth $274,000 after purchasing an additional 2,304 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Planet Fitness by 2.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock worth $2,089,000 after purchasing an additional 2,369 shares during the period. Finally, AHL Partners LLP boosted its stake in Planet Fitness by 11.0% in the 2nd quarter. AHL Partners LLP now owns 27,748 shares of the company’s stock worth $648,000 after purchasing an additional 2,756 shares during the period.

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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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