Planet Fitness (NYSE:PLNT) Given New $82.00 Price Target at Stifel Nicolaus

Planet Fitness (NYSE:PLNT) had its price objective dropped by research analysts at Stifel Nicolaus from $90.00 to $82.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential downside of 10.44% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday. Robert W. Baird lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Macquarie lowered their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday. DA Davidson restated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Guggenheim reaffirmed a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research note on Thursday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Planet Fitness Stock Up 1.0 %

Shares of PLNT stock opened at $91.56 on Friday. The company has a market cap of $7.75 billion, a P/E ratio of 49.22, a PEG ratio of 2.45 and a beta of 1.53. The business has a 50 day moving average of $102.28 and a two-hundred day moving average of $92.23. Planet Fitness has a 52 week low of $54.35 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. Analysts expect that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $39,000. CoreCap Advisors LLC boosted its position in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Planet Fitness in the fourth quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares during the last quarter. 95.53% 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 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.