Planet Fitness (NYSE:PLNT) PT Lowered to $66.00 at Raymond James

Planet Fitness (NYSE:PLNT) had its price target trimmed by Raymond James from $87.00 to $66.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a strong-buy rating on the stock.

PLNT has been the subject of several other reports. Morgan Stanley reduced their price objective on Planet Fitness from $88.00 to $84.00 and set an overweight rating for the company in a research report on Friday, August 4th. TD Cowen lowered Planet Fitness from an outperform rating to a market perform rating and cut their price target for the company from $72.00 to $55.00 in a research note on Friday. Robert W. Baird lowered their price target on Planet Fitness from $87.00 to $65.00 in a research note on Monday. StockNews.com assumed coverage on shares of Planet Fitness in a research note on Thursday, August 17th. They issued a hold rating on the stock. Finally, BNP Paribas downgraded shares of Planet Fitness from a neutral rating to an underperform rating and set a $57.00 price objective on the stock. in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $73.19.

Planet Fitness Stock Down 3.6 %

PLNT stock opened at $48.50 on Monday. The business has a fifty day simple moving average of $62.42 and a 200-day simple moving average of $68.97. Planet Fitness has a 52 week low of $48.01 and a 52 week high of $85.90. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 0.92 and a beta of 1.30.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. Planet Fitness had a negative return on equity of 86.09% and a net margin of 12.03%. The business had revenue of $286.50 million during the quarter, compared to the consensus estimate of $251.99 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 27.7% on a year-over-year basis. As a group, analysts expect that Planet Fitness will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of PLNT. PNC Financial Services Group Inc. increased its stake in shares of Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after acquiring an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Planet Fitness by 801.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Planet Fitness in the 1st quarter worth about $357,000. BlackRock Inc. increased its holdings in shares of Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after acquiring an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Planet Fitness in the first quarter worth about $919,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.