Planet Fitness Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:PLNT)

Planet Fitness Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:PLNT)
Planet Fitness (NASDAQ:PLNT) has been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, MarketBeat.Com reports. Ten analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $20.78.

Several equities analysts have commented on the company. Jefferies Group restated a “buy” rating and set a $25.00 price objective on shares of Planet Fitness in a research report on Friday, September 25th. Cowen and Company reaffirmed an “outperform” rating and set a $21.00 target price on shares of Planet Fitness in a research note on Friday, September 25th. Wedbush began coverage on Planet Fitness in a research note on Monday, September 21st. They issued an “outperform” rating and a $22.00 price objective for the company. William Blair restated a “buy” rating on shares of Planet Fitness in a report on Sunday, September 6th. Finally, Guggenheim assumed coverage on Planet Fitness in a report on Monday, August 31st. They set a “buy” rating and a $20.00 price target on the stock.

Shares of Planet Fitness (NASDAQ:PLNT) traded down 0.76% during trading on Wednesday, hitting $16.91. The company had a trading volume of 77,073 shares. The stock has a market capitalization of $618.86 million and a price-to-earnings ratio of 14.79. Planet Fitness has a 12-month low of $13.65 and a 12-month high of $19.65. The stock has a 50-day moving average of $17.36 and a 200 day moving average of $17.29.

Planet Fitness (NASDAQ:PLNT) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $79 million for the quarter. On average, analysts predict that Planet Fitness will post $0.47 EPS for the current fiscal year.

Planet Fitness, Inc. is a holding company. The Company, through its subsidiary, Pla-Fit Holdings, LLC., is a franchisor and operator of fitness centers in the United States. It is engaged in licensing and selling franchises under the Planet Fitness trade name, owning and operating fitness centers under the Planet Fitness trade name and selling fitness-related equipment to franchisee-owned stores. It operates through three segments, including the Franchise segment, the Corporate-owned stores segment and the Equipment segment. Its stores include around 20,000 square feet of area and offer Planet Fitness-branded cardio, circuit- and weight-training equipment. It also offers PE@PF fitness instruction program. As of June 30, 2015 the Company owned 1,014 stores, including 58 corporate-owned stores and 956 franchisee-owned stores. It offers standard and PF Black Card memberships. It offers water massage beds, massage chairs and tanning equipment, among others to its PF Black Card members.