Planet Fitness, Inc. (NYSE:PLNT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $97.69.

A number of brokerages have weighed in on PLNT. Raymond James raised their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Wednesday, January 15th. DA Davidson reiterated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Morgan Stanley increased their price target on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $101.88 on Friday. The business has a 50 day simple moving average of $102.79 and a two-hundred day simple moving average of $90.60. The stock has a market capitalization of $8.62 billion, a P/E ratio of 54.77, a PEG ratio of 2.68 and a beta of 1.53. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in Planet Fitness in the second quarter valued at approximately $207,000. Creative Planning grew its stake in shares of Planet Fitness by 16.6% in the second quarter. Creative Planning now owns 8,952 shares of the company’s stock valued at $659,000 after buying an additional 1,277 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Planet Fitness by 39.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 22,081 shares of the company’s stock valued at $1,793,000 after buying an additional 6,300 shares during the period. GAMMA Investing LLC lifted its stake in Planet Fitness by 396.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after acquiring an additional 1,516 shares in the last quarter. Finally, Walter Public Investments Inc. boosted its holdings in Planet Fitness by 3.0% during the 3rd quarter. Walter Public Investments Inc. now owns 162,709 shares of the company’s stock valued at $13,215,000 after acquiring an additional 4,784 shares during the period. 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.