Planet Fitness (NYSE: PLNT – Get a rating) Its price target was lowered by analysts at DA Davidson from $110.00 to $90.00 in a research report released to clients and investors on Friday, The Fly reports. DA Davidson’s price target may indicate a potential upside of 23.98% from the stock’s previous close. DA Davidson also released estimates of Planet Fitness’ earnings for the second quarter of 2022 at $0.36 EPS.
PLNT has been the subject of several other reports. Zacks Investment Research lowered Planet Fitness’s stock rating from “hold” to “sell” and set a price target of $70.00 per share. In a research report on Wednesday, March 2nd. Piper Sandler lowered its price target on Planet Fitness shares from $87.00 to $72.00 in a research note on Wednesday. StockNews.com began covering shares of Planet Fitness in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Evercore ISI began covering shares of Planet Fitness in a research note on Monday, March 14th. They set a “superior” rating and a target price of $130.00 per share. Finally, BMO Capital Markets lowered its price target for Planet Fitness shares from $96.00 to $88.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “buy” and an average target price of $96.50.
PLNT shares opened at $72.59 on Friday. The company has a market capitalization of $6.61 billion, a price-earnings ratio of 113.42, a price-earnings ratio of 2.30 and a beta 1.16. Planet Fitness had a fifty-two-week low of $67.39 and a 52-week high of $99.60. The company has a 50-day moving average of $81.68 and a 200-day moving average of $85.60.
Planet Fitness (NYSE: PLNT – Get Rating) released its latest quarterly earnings data on Tuesday, May 10. The company reported earnings of $0.32 per share (EPS) for the quarter, topping analysts’ estimates of $0.27 by $0.05. The company generated revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness has a net profit margin of 8.11% and a negative return on equity of 16.39%. The company’s quarterly revenue increased 66.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 EPS. Equity research analysts expect Planet Fitness to post 1.54 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of stocks. Edmond DE Rothschild Holding SA boosted its position in shares of Planet Fitness by 3.7% during the 4th quarter. Edmond DE Rothschild Holding SA now owns 3,417 shares of the company’s stock valued at $310,000 after purchasing an additional 122 shares in the last quarter. Arizona Retirement System increased its position in Planet Fitness shares by 0.6% during the first quarter. Arizona Retirement System now owns 22,529 shares of the company’s stock, valued at $1,903,000 after purchasing an additional 127 shares last quarter. Global Retirement Partners LLC increased its position in shares of Planet Fitness by 29.7% during the fourth quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock, valued at $51,000 after purchasing an additional 129 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Planet Fitness by 0.8% during the third quarter. Royal Bank of Canada now owns 17,076 shares of the company’s stock, valued at $1,342,000 after purchasing an additional 141 shares in the last quarter. Finally, New Jersey State Compound Pension Fund increased its position in Planet Fitness shares by 0.3% during the fourth quarter. The New Jersey Joint Pension Fund now owns 48,806 shares of the company’s stock valued at $4,421,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
About Planet Fitness (Get Rating)
Planet Fitness, Inc, along with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. They operate through franchise divisions and corporate owned and equipment stores. The franchise segment is involved in the franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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