Planet Fitness (NYSE:PLNT) Downgraded by ValuEngine

ValuEngine downgraded shares of Planet Fitness (NYSE:PLNT) from a strong-buy rating to a buy rating in a research note published on Wednesday morning, ValuEngine reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Garrett Motion from a sell rating to a hold rating in a report on Friday, May 10th. Robert W. Baird reissued an outperform rating and issued a $48.00 target price (down from $54.00) on shares of Archer Daniels Midland in a report on Monday, April 29th. Jefferies Financial Group raised their target price on shares of Monster Beverage from $65.00 to $70.00 and gave the company a buy rating in a report on Friday, May 3rd. Cowen reissued an outperform rating and issued a $41.00 target price (down from $42.00) on shares of American Airlines Group in a report on Monday, April 29th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $29.00 target price on shares of TechnipFMC in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Planet Fitness currently has a consensus rating of Buy and an average price target of $69.50.

Shares of PLNT opened at $74.17 on Wednesday. Planet Fitness has a 1 year low of $44.97 and a 1 year high of $81.90. The firm’s 50 day moving average is $76.71. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 56.62, a P/E/G ratio of 2.22 and a beta of 0.59.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The business had revenue of $148.82 million during the quarter, compared to analyst estimates of $153.41 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was up 22.7% on a year-over-year basis. Sell-side analysts expect that Planet Fitness will post 1.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of Planet Fitness by 4,557.1% during the first quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock worth $45,000 after purchasing an additional 638 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Planet Fitness by 228.3% during the first quarter. Synovus Financial Corp now owns 719 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Planet Fitness by 30.6% during the fourth quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock worth $60,000 after purchasing an additional 264 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Planet Fitness during the first quarter worth $73,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Planet Fitness by 88.8% during the first quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock worth $74,000 after purchasing an additional 506 shares during the last quarter. 93.87% of the stock is owned by institutional investors.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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