Roth Mkm Reiterates Buy Rating for Planet Fitness (NYSE:PLNT)

Planet Fitness (NYSE:PLNT)‘s stock had its “buy” rating reiterated by Roth Mkm in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $115.00 price objective on the stock, up from their prior price objective of $110.00. Roth Mkm’s price objective would suggest a potential upside of 25.60% from the stock’s previous close.

Other analysts have also issued reports about the company. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Macquarie reiterated a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Morgan Stanley raised their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $99.47.

Planet Fitness Trading Up 1.0 %

Planet Fitness stock opened at $91.56 on Wednesday. The stock’s 50 day moving average is $102.28 and its 200-day moving average is $92.23. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

A number of institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after purchasing an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $130,376,000. Norges Bank bought a new stake in Planet Fitness in the 4th quarter valued at about $100,009,000. FMR LLC raised its stake in Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares during the period. Finally, Nomura Holdings Inc. boosted its holdings in Planet Fitness by 103.4% in the fourth quarter. Nomura Holdings Inc. now owns 11,170 shares of the company’s stock worth $1,104,000 after acquiring an additional 340,370 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

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.