Planet Fitness (NYSE:PLNT) Price Target Increased to $88.00 by Analysts at Roth Mkm

Planet Fitness (NYSE:PLNT) had its price target upped by research analysts at Roth Mkm from $73.00 to $88.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 14.02% from the company’s previous close.

Several other research firms have also recently weighed in on PLNT. Piper Sandler lifted their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Raymond James boosted their price objective on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, DA Davidson restated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $79.73.

Planet Fitness Trading Up 1.0 %

Shares of PLNT traded up $0.78 during mid-day trading on Wednesday, reaching $77.18. The company’s stock had a trading volume of 1,137,582 shares, compared to its average volume of 1,678,255. The stock has a market cap of $6.81 billion, a P/E ratio of 44.53, a PEG ratio of 2.44 and a beta of 1.49. The business has a 50-day simple moving average of $72.27 and a two-hundred day simple moving average of $66.82. Planet Fitness has a 1-year low of $44.13 and a 1-year high of $79.10.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Research analysts anticipate that Planet Fitness will post 2.43 EPS for the current year.

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the last quarter. LRI Investments LLC increased its position in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $27,000. Finally, Asset Management One Co. Ltd. increased its position in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

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.