Planet Fitness (NYSE:PLNT) Stock Price Up 3.9%

Planet Fitness, Inc. (NYSE:PLNT) shares rose 3.9% on Monday . The stock traded as high as $63.66 and last traded at $63.66. Approximately 482,196 shares changed hands during trading, a decline of 70% from the average daily volume of 1,610,696 shares. The stock had previously closed at $61.29.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. JPMorgan Chase & Co. dropped their target price on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Stifel Nicolaus decreased their price target on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Planet Fitness Stock Performance

The stock’s 50 day simple moving average is $63.43 and its two-hundred day simple moving average is $64.25. The firm has a market capitalization of $5.36 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.39.

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

Institutional Trading of Planet Fitness

Several institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $25,000. Allworth Financial LP increased its holdings in Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Planet Fitness in the 3rd quarter valued at approximately $27,000. Rockefeller Capital Management L.P. increased its holdings in Planet Fitness by 93.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after purchasing an additional 220 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Planet Fitness in the fourth quarter worth $47,000. Hedge funds and other 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.