Planet Fitness (NYSE:PLNT – Get Rating) was downgraded by equities research analysts at BNP Paribas from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $57.00 price target on the stock. BNP Paribas’ price objective suggests a potential downside of 16.00% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $78.00 to $82.00 in a research note on Wednesday, June 14th. StockNews.com initiated coverage on shares of Planet Fitness in a research note on Thursday, May 18th. They set a “hold” rating on the stock. BMO Capital Markets reduced their price objective on shares of Planet Fitness from $90.00 to $82.00 in a research note on Friday, May 5th. Raymond James increased their target price on shares of Planet Fitness from $92.00 to $95.00 and gave the stock a “strong-buy” rating in a report on Friday, February 24th. Finally, Morgan Stanley increased their target price on shares of Planet Fitness from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $84.33.
Planet Fitness Stock Performance
PLNT stock opened at $67.86 on Friday. The company’s 50-day simple moving average is $71.30 and its 200 day simple moving average is $76.32. Planet Fitness has a 52 week low of $54.15 and a 52 week high of $85.90. The company has a market capitalization of $6.05 billion, a PE ratio of 54.29, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $222.23 million for the quarter, compared to analyst estimates of $238.30 million. Planet Fitness had a negative return on equity of 73.81% and a net margin of 10.86%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, analysts forecast that Planet Fitness will post 2.16 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in Planet Fitness by 2.4% in the 1st quarter. Fifth Third Bancorp now owns 5,671 shares of the company’s stock valued at $440,000 after buying an additional 133 shares during the last quarter. Campbell Newman Asset Management Inc. raised its holdings in Planet Fitness by 1.0% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 14,041 shares of the company’s stock valued at $1,091,000 after buying an additional 133 shares during the last quarter. Xponance Inc. raised its holdings in Planet Fitness by 1.6% in the 1st quarter. Xponance Inc. now owns 9,229 shares of the company’s stock valued at $717,000 after buying an additional 141 shares during the last quarter. Amalgamated Bank raised its holdings in Planet Fitness by 0.8% in the 4th quarter. Amalgamated Bank now owns 18,349 shares of the company’s stock valued at $1,446,000 after buying an additional 149 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Planet Fitness by 16.0% in the 1st quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $84,000 after buying an additional 150 shares during the last quarter. Institutional investors own 95.82% 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.
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