Planet Fitness (NYSE:PLNT – Free Report) had its price objective cut by Robert W. Baird from $87.00 to $65.00 in a research note issued to investors on Monday morning, FlyOnTheWall reports.
Other research analysts have also issued research reports about the stock. DA Davidson decreased their price target on shares of Planet Fitness from $67.00 to $66.00 and set a neutral rating on the stock in a research report on Friday, August 4th. Guggenheim lowered their price objective on shares of Planet Fitness from $80.00 to $70.00 and set a buy rating on the stock in a research report on Monday. Piper Sandler reduced their price target on Planet Fitness from $96.00 to $88.00 in a report on Thursday, June 22nd. Jefferies Financial Group cut shares of Planet Fitness from a buy rating to a hold rating and decreased their price objective for the stock from $90.00 to $56.00 in a report on Monday. Finally, Royal Bank of Canada lowered their price target on Planet Fitness from $86.00 to $78.00 and set an outperform rating on the stock in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $73.19.
Get Our Latest Analysis on PLNT
Planet Fitness Stock Performance
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 86.09%. The firm had revenue of $286.50 million for the quarter, compared to analyst estimates of $251.99 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. Planet Fitness’s quarterly revenue was up 27.7% on a year-over-year basis. On average, analysts forecast that Planet Fitness will post 2.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PLNT. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Planet Fitness in the 4th quarter worth about $589,000. Putnam Investments LLC grew its holdings in Planet Fitness by 1.3% in the first quarter. Putnam Investments LLC now owns 217,395 shares of the company’s stock worth $16,885,000 after purchasing an additional 2,879 shares during the period. Raymond James & Associates increased its holdings in shares of Planet Fitness by 28.0% during the first quarter. Raymond James & Associates now owns 130,196 shares of the company’s stock valued at $10,112,000 after acquiring an additional 28,501 shares in the last quarter. UBS Group AG lifted its position in Planet Fitness by 35.1% in the 4th quarter. UBS Group AG now owns 68,475 shares of the company’s stock valued at $5,396,000 after acquiring an additional 17,772 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Planet Fitness by 1.2% during the 1st quarter. CIBC Private Wealth Group LLC now owns 243,680 shares of the company’s stock valued at $14,194,000 after acquiring an additional 2,778 shares during the period. Hedge funds and other 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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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