Stifel Nicolaus Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its target price dropped by investment analysts at Stifel Nicolaus from $90.00 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 11.35% from the company’s previous close.

Several other research analysts also recently commented on PLNT. JPMorgan Chase & Co. lifted 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. Robert W. Baird boosted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Roth Mkm reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday. Finally, Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Five equities 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Planet Fitness Trading Up 1.2 %

Shares of PLNT opened at $92.50 on Friday. The company has a market capitalization of $7.82 billion, a PE ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $110.00. The stock’s 50-day moving average price is $102.15 and its two-hundred day moving average price is $92.41.

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

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds have recently modified their holdings of PLNT. Vanguard Group Inc. increased its position in shares of Planet Fitness by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock valued at $794,496,000 after buying an additional 39,928 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of 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 worth $782,169,000 after buying an additional 2,570,826 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after buying an additional 36,803 shares in the last quarter. State Street Corp lifted its stake in shares of Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its position in Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock valued at $175,256,000 after purchasing an additional 299,148 shares during the period. 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.