Planet Fitness, Inc. (PLNT) Rating Reiterated by Jefferies Group LLC
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.
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