Planet Fitness Stock Rating Reaffirmed by Cowen and Company (PLNT)

Posted September 30, 2015 2:21 pm by healthclubnews

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Planet Fitness (NASDAQ:PLNT)‘s stock had its “outperform” rating reissued by investment analysts at Cowen and Company in a research report issued on Friday, Market Beat reports. They presently have a $21.00 target price on the stock. Cowen and Company’s target price points to a potential upside of 20.00% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Jefferies Group assumed coverage on Planet Fitness in a research note on Monday, August 31st. They set a “buy” rating on the stock. 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 on the stock. William Blair restated a “buy” rating on shares of Planet Fitness in a research report on Sunday, September 6th. JPMorgan Chase & Co. initiated coverage on Planet Fitness in a report on Monday, August 31st. They set an “overweight” rating and a $20.00 price objective on the stock. Finally, Piper Jaffray began coverage on Planet Fitness in a research note on Monday, August 31st. They issued an “overweight” rating and a $19.00 price target on the stock. Ten analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $20.78.

Shares of Planet Fitness (NASDAQ:PLNT) traded down 0.80% during mid-day trading on Friday, hitting $17.36. 270,465 shares of the stock were exchanged. The firm has a market cap of $635.32 million and a price-to-earnings ratio of 15.19. Planet Fitness has a 52-week low of $13.65 and a 52-week high of $19.65. The stock has a 50-day moving average price of $17.61 and a 200 day moving average price of $17.61.

Planet Fitness (NASDAQ:PLNT) last announced its quarterly earnings resultson Wednesday, September 2nd. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company earned $79 million during the quarter. On average, equities research analysts expect that Planet Fitness will post $0.47 earnings per share for the current 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.