Planet Fitness (NYSE:PLNT) Given New $100.00 Price Target at Robert W. Baird

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Planet Fitness (NYSE:PLNTGet Rating) had its target price hoisted by analysts at Robert W. Baird from $95.00 to $100.00 in a research note issued to investors on Wednesday, The Fly reports. Robert W. Baird’s price objective suggests a potential upside of 20.41% from the company’s previous close.

A number of other research analysts also recently commented on PLNT. Raymond James increased their price objective on shares of Planet Fitness from $84.00 to $92.00 in a research note on Wednesday, November 16th. StockNews.com assumed coverage on shares of Planet Fitness in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson increased their price objective on shares of Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a research note on Friday, November 11th. BMO Capital Markets increased their price objective on shares of Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, November 9th. Finally, Piper Sandler increased their price objective on shares of Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, December 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.62.

Planet Fitness Price Performance

PLNT opened at $83.05 on Wednesday. Planet Fitness has a 12-month low of $54.15 and a 12-month high of $97.33. The stock has a market capitalization of $7.44 billion, a PE ratio of 98.87, a P/E/G ratio of 1.26 and a beta of 1.24. The firm’s fifty day moving average price is $75.35 and its 200 day moving average price is $71.34.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. grew its position in shares of Planet Fitness by 4.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 3,447 shares of the company’s stock worth $234,000 after acquiring an additional 145 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Planet Fitness by 13.4% during the first 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 last quarter. Truist Financial Corp grew its position in shares of Planet Fitness by 0.6% during the third quarter. Truist Financial Corp now owns 38,704 shares of the company’s stock worth $2,231,000 after acquiring an additional 215 shares during the last quarter. Royal Bank of Canada grew its position in shares of Planet Fitness by 1.1% during the third quarter. Royal Bank of Canada now owns 19,590 shares of the company’s stock worth $1,129,000 after acquiring an additional 216 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares during the last quarter. Institutional investors own 94.56% of the company’s stock.

About Planet Fitness

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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