Planet Fitness (PLNT) Receives Lower Rating From Imperial Capital. What’s The Reasoning Behind This Move?

May 18, 2018 - By Ned Sandoval

Planet Fitness, Inc. (NYSE:PLNT) Logo

Planet Fitness (PLNT) Receives a Downgrade

Imperial Capital has lowered the rating for shares of Planet Fitness (PLNT) to a solid In-Line in a note revealed to clients on 18 May. PLNT’s previous rating by the firm was a Outperform.

Planet Fitness, Inc. (NYSE:PLNT) Ratings Coverage

Among 9 analysts covering Planet Fitness (PLNT), 8 have Buy rating, 0 Sell and 1 Hold. Therefore 89% are positive. Planet Fitness has $47.0 highest and $35.0 lowest target. $41.33’s average target is 1.05% above currents $40.9 stock price. Planet Fitness had 15 analyst reports since November 21, 2017 according to SRatingsIntel. The company was maintained on Friday, February 23 by Cowen & Co. The stock has “Hold” rating by Jefferies on Friday, February 23. The stock of Planet Fitness, Inc. (NYSE:PLNT) has “Buy” rating given on Tuesday, January 9 by Cowen & Co. The stock of Planet Fitness, Inc. (NYSE:PLNT) earned “Hold” rating by Jefferies on Tuesday, January 2. Piper Jaffray initiated the stock with “Buy” rating in Monday, December 18 report. The company was maintained on Thursday, March 1 by Roth Capital. The stock has “Buy” rating by Robert W. Baird on Friday, March 9. Robert W. Baird maintained it with “Buy” rating and $38.0 target in Monday, February 12 report. Guggenheim maintained the shares of PLNT in report on Friday, February 23 with “Buy” rating. The rating was maintained by Bank of America on Thursday, February 1 with “Buy”.

The stock increased 0.37% or $0.15 during the last trading session, reaching $40.9. About 980,508 shares traded. Planet Fitness, Inc. (PLNT) has risen 95.82% since May 18, 2017 and is uptrending. It has outperformed by 84.27% the S&P500.

Analysts await Planet Fitness, Inc. (NYSE:PLNT) to report earnings on August, 8. They expect $0.31 earnings per share, up 40.91 % or $0.09 from last year’s $0.22 per share. PLNT’s profit will be $30.50 million for 32.98 P/E if the $0.31 EPS becomes a reality. After $0.27 actual earnings per share reported by Planet Fitness, Inc. for the previous quarter, Wall Street now forecasts 14.81 % EPS growth.

Planet Fitness, Inc., through its subsidiaries, franchises and operates fitness centers. The company has market cap of $4.02 billion. It operates through three divisions: Franchise, Corporate-Owned Stores, and Equipment. It has a 97.38 P/E ratio. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, and the Dominican Republic.

More important recent Planet Fitness, Inc. (NYSE:PLNT) news were published by: Investorplace.com which released: “Planet Fitness Inc Stock Looks Dangerous — Both Long and Short” on April 24, 2018, also Nasdaq.com published article titled: “Planet Fitness Profits Surge on Strong Comps, Tax Reform”, Streetinsider.com published: “Imperial Capital Downgrades Planet Fitness (PLNT) to In-Line Citng a Need for the Equity Reset Following a ‘Great Run'” on May 18, 2018. More interesting news about Planet Fitness, Inc. (NYSE:PLNT) was released by: Globenewswire.com and their article: “Analysis: Positioning to Benefit within InnerWorkings, Planet Fitness, Huntington Bancshares, Univar, Expedia, and …” with publication date: May 11, 2018.

Planet Fitness, Inc. (NYSE:PLNT) Ratings Chart

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