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DA Davidson reaffirms a Neutral rating on Planet Fitness (NYSE:PLNT)


Planet Fitness (NYSE:PLNT – Get Free Report)The company’s stock received a “neutral” rating from DA Davidson in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a price target of $62.00. DA Davidson’s price target indicates a potential downside of 4.54% for the stock from its previous close.

Many other brokerage houses also commented on PLNT. JPMorgan Chase & Co. lowered their target price on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. StockNews.com upgraded Planet Fitness stock from “sell” to “hold” in a research report on Wednesday. Robert W. Baird raised their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday. In a report on Friday, Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered the company’s stock price target from $80.00 to $70.00. Finally, Royal Bank of Canada raised their price target on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5. Seven analysts rated the company’s shares with a hold rating, seven with a buy rating and one with a strong buy rating. Based on data from MarketBeat.com, the company’s consensus rating is currently “Moderate Buy” and the consensus price target is $71.43.

Check out our latest stock market report on PLNT

Planet Fitness shares fell 0.6%

Shares of Planet Fitness closed at $64.95 on Thursday. The company has a market value of $5.73 billion, a PE ratio of 40.09, a P/E/G ratio of 1.97 and a beta ratio of 1.37. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $75.86. The company’s 50-day moving average price is $61.54 and its two-hundred-day moving average price is $65.29.

Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, $0.04 above the consensus estimate of $0.49. The company’s revenue for the quarter was $248.00 million, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company’s year-over-year revenues increased by 11.6%. During the same period last year, the company saw an EPS of $0.41. As a group, analysts expect Planet Fitness to report 2.49 earnings per share for the current year.

Institutional inflows and outflows

A number of hedge funds have recently made changes to their positions in PLNT. In the first quarter, Vanguard Group Inc. increased its shares in Planet Fitness by 1.2%. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after purchasing an additional 97,823 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Planet Fitness during the first quarter worth approximately $1,786,000. The Florida Retirement System Board increased its holdings in Planet Fitness by 4.4% during the first quarter. The Florida Retirement System State Board now owns 92,400 shares of the company’s stock valued at $5,787,000 after purchasing an additional 3,860 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA increased its position in Planet Fitness by 4.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 125,696 shares of the company’s stock valued at $7,872,000 after purchasing an additional 5,535 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Planet Fitness by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock valued at $851,000 after acquiring an additional 1,057 shares in the last quarter. 95.53% of the shares are currently held by institutional investors and hedge funds.

About Planet Fitness

(Get the free report)

Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates in three segments: Franchise, Corporate Stores and Hardware. The company operates franchises in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.

Further reading

Analyst Recommendations for Planet Fitness (NYSE:PLNT)



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