Planet Fitness (NYSE:PLNT) had its price objective dropped by analysts at Roth Capital from $86.00 to $75.00 in a report released on Friday, The Fly reports. The firm presently has a “buy” rating on the stock. Roth Capital’s target price would indicate a potential upside of 9.62% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Berenberg Bank cut Planet Fitness from a “buy” rating to a “hold” rating and reduced their target price for the company from $80.00 to $69.00 in a report on Tuesday, September 3rd. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price on the stock. in a report on Wednesday. Finally, Imperial Capital upgraded Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 target price on the stock in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Planet Fitness currently has a consensus rating of “Buy” and an average price target of $76.50.
Shares of NYSE:PLNT traded up $5.71 during midday trading on Friday, reaching $68.42. The company’s stock had a trading volume of 4,475,984 shares, compared to its average volume of 1,423,953. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 56.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63. Planet Fitness has a 1 year low of $48.00 and a 1 year high of $81.90. The business has a 50 day moving average price of $60.22 and a 200 day moving average price of $70.59.
Several institutional investors and hedge funds have recently modified their holdings of the business. Frontier Wealth Management LLC lifted its stake in shares of Planet Fitness by 4.6% during the second quarter. Frontier Wealth Management LLC now owns 3,670 shares of the company’s stock worth $266,000 after purchasing an additional 160 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its stake in shares of Planet Fitness by 0.8% during the third quarter. Landsberg Bennett & Dubbaneh LLC now owns 28,800 shares of the company’s stock worth $1,654,000 after purchasing an additional 238 shares in the last quarter. Groesbeck Investment Management Corp NJ lifted its stake in shares of Planet Fitness by 2.8% during the third quarter. Groesbeck Investment Management Corp NJ now owns 9,610 shares of the company’s stock worth $556,000 after purchasing an additional 260 shares in the last quarter. Bank of Montreal Can increased its position in shares of Planet Fitness by 157.1% during the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares during the last quarter. Finally, Zacks Investment Management increased its position in shares of Planet Fitness by 0.5% during the second quarter. Zacks Investment Management now owns 59,612 shares of the company’s stock worth $4,318,000 after acquiring an additional 307 shares during the last quarter. Institutional investors own 88.97% 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 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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