Planet Fitness (NYSE:PLNT) Price Target Increased to $88.00 by Analysts at Robert W. Baird

Planet Fitness (NYSE:PLNT) had its price objective boosted by stock analysts at Robert W. Baird from $80.00 to $88.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 34.76% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $70.00 in a research report on Friday. Piper Sandler boosted their price objective on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Monday, February 5th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.14.

Planet Fitness Trading Up 5.6 %

Shares of PLNT opened at $65.30 on Friday. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $75.86. The firm’s 50-day moving average price is $61.48 and its 200-day moving average price is $65.21. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 1.93 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, research analysts forecast that Planet Fitness will post 2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Planet Fitness by 18.1% during the third quarter. SG Americas Securities LLC now owns 7,741 shares of the company’s stock worth $381,000 after purchasing an additional 1,186 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Planet Fitness by 679.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,978 shares of the company’s stock valued at $1,573,000 after buying an additional 27,877 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Planet Fitness by 7.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 71,355 shares of the company’s stock worth $3,509,000 after acquiring an additional 4,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Planet Fitness by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,823 shares of the company’s stock worth $877,000 after acquiring an additional 4,080 shares during the period. Finally, Sandy Spring Bank raised its stake in shares of Planet Fitness by 125.0% during the third quarter. Sandy Spring Bank now owns 4,500 shares of the company’s stock valued at $221,000 after acquiring an additional 2,500 shares in the last quarter. 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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.