Roth Capital Trims Planet Fitness (NYSE:PLNT) Target Price to $75.00

Planet Fitness (NYSE:PLNT) had its target price decreased by Roth Capital from $86.00 to $75.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the stock. Roth Capital’s target price would suggest a potential upside of 9.62% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Zacks Investment Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price for the company. in a research report on Wednesday. Imperial Capital upgraded Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 target price for the company in a research report on Monday, October 14th. Finally, Berenberg Bank downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $76.50.

PLNT traded up $5.71 during trading on Friday, reaching $68.42. The stock had a trading volume of 4,475,984 shares, compared to its average volume of 1,423,953. The firm has a market capitalization 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 stock has a 50 day moving average of $60.22 and a two-hundred day moving average of $70.59.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $166.82 million during the quarter, compared to the consensus estimate of $162.26 million. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, equities research analysts expect that Planet Fitness will post 1.57 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in PLNT. Empowered Funds LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $1,075,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $277,000. Harbour Capital Advisors LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $279,000. Chicago Capital LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $522,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at $205,000. 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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