Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $93.77.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. Robert W. Baird lifted their price target on Planet Fitness from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 11th. Piper Sandler upped their price objective on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, December 22nd. Guggenheim lowered their target price on Planet Fitness to $85.00 in a report on Tuesday, November 1st. Finally, Cowen increased their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 16th.
PLNT stock opened at $82.45 on Tuesday. The firm has a market cap of $7.38 billion, a P/E ratio of 98.16, a P/E/G ratio of 1.25 and a beta of 1.26. The stock’s 50 day simple moving average is $80.00 and its 200 day simple moving average is $72.80. Planet Fitness has a 12-month low of $54.15 and a 12-month high of $96.44.
Several hedge funds and other institutional investors have recently bought and sold shares of PLNT. PNC Financial Services Group Inc. lifted its holdings in shares of Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after acquiring an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new stake in Planet Fitness during the first quarter valued at approximately $357,000. BlackRock Inc. grew its holdings in shares of Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Planet Fitness in the first quarter valued at about $919,000. 94.56% of the stock is owned by institutional investors.
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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