Planet Fitness (NYSE:PLNT) Price Target Increased to $93.00 by Analysts at Stifel Nicolaus
Planet Fitness (NYSE:PLNT – Get Rating) had its price target lifted by investment analysts at Stifel Nicolaus from $82.00 to $93.00 in a report issued on Friday, The Fly reports. Stifel Nicolaus’ price objective suggests a potential upside of 10.98% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Morgan Stanley lowered their price target on Planet Fitness from $93.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. Cowen lifted their price target on shares of Planet Fitness from $80.00 to $90.00 in a research note on Wednesday, November 16th. 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. Cowen raised their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, November 16th. Finally, Piper Sandler lifted their target price 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 research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $93.46.
Planet Fitness Price Performance
NYSE PLNT opened at $83.80 on Friday. The company’s fifty day moving average is $76.15 and its two-hundred day moving average is $71.52. Planet Fitness has a 52-week low of $54.15 and a 52-week high of $97.04. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 99.76, a P/E/G ratio of 1.26 and a beta of 1.24.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Planet Fitness by 290.5% during the second quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 581 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Planet Fitness by 58.4% during the 3rd quarter. Global Retirement Partners LLC now owns 852 shares of the company’s stock worth $56,000 after purchasing an additional 314 shares during the last quarter. Ellevest Inc. lifted its position in Planet Fitness by 1,098.8% during the 2nd quarter. Ellevest Inc. now owns 971 shares of the company’s stock valued at $66,000 after purchasing an additional 890 shares during the period. Captrust Financial Advisors boosted its stake in shares of Planet Fitness by 23.0% in the 1st quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000 after purchasing an additional 219 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position 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 buying an additional 157 shares during the period. Institutional investors and hedge funds own 94.56% 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 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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