Shares of Planet Fitness Inc (NYSE:PLNT) have been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $52.79.

A number of research firms have recently weighed in on PLNT. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, January 1st. Bank of America reiterated a “neutral” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Planet Fitness in a report on Thursday, December 6th. Macquarie lowered shares of Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Monday, November 12th. Imperial Capital raised their price objective on shares of Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a report on Friday, November 9th. Finally, DA Davidson set a $58.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a report on Tuesday, October 16th.

Shares of PLNT traded up $0.08 during mid-day trading on Friday, reaching $58.71. The company had a trading volume of 49,576 shares, compared to its average volume of 1,312,996. Planet Fitness has a 1-year low of $28.98 and a 1-year high of $59.23. The company has a market cap of $5.69 billion, a P/E ratio of 69.14, a PEG ratio of 2.09 and a beta of 0.74.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The company had revenue of $136.66 million for the quarter, compared to the consensus estimate of $126.10 million. During the same period last year, the company posted $0.19 EPS. The firm’s quarterly revenue was up 40.2% compared to the same quarter last year. On average, equities analysts predict that Planet Fitness will post 1.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Planet Fitness by 407.9% during the 2nd quarter. FMR LLC now owns 2,527,143 shares of the company’s stock worth $111,043,000 after acquiring an additional 2,029,530 shares during the last quarter. American Century Companies Inc. boosted its holdings in Planet Fitness by 587.6% during the 3rd quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after acquiring an additional 1,659,806 shares during the last quarter. Marshall Wace LLP purchased a new position in Planet Fitness during the 3rd quarter worth $55,238,000. Massachusetts Financial Services Co. MA purchased a new position in Planet Fitness during the 3rd quarter worth $41,917,000. Finally, Capital International Investors purchased a new position in Planet Fitness during the 3rd quarter worth $35,120,000. 90.48% of the stock is owned by institutional investors and hedge funds.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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