Imperial Capital Reiterates a Buy Rating on Planet Fitness

By Ryan Adsit

In a report released today, George Kelly from Imperial Capital reiterated a Buy rating on Planet Fitness (NYSE: PLNT), with a price target of $26. The company’s shares closed last Friday at $21.16.

Kelly has an average return of 20.7% when recommending Planet Fitness.

According to TipRanks.com, Kelly is ranked #802 out of 4178 analysts.

Currently, the analyst consensus on Planet Fitness is Strong Buy and the average price target is $25, representing a 18.1% upside.

In a report issued on October 27, Jefferies also reiterated a Buy rating on the stock with a $27 price target.

Based on Planet Fitness’ latest earnings report from June 30, the company posted quarterly revenue of $91.47M and quarterly net profit of $4.13M. In comparison, last year the company earned revenue of $68.82M and had a net profit of -$3.89M.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.

Planet Fitness, Inc. operates and franchises fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the U. S., Puerto Rico, and Canada. The Corporate-Owned Stores segment deals with the operations with respect to all corporate-owned stores throughout the U. S. and Canada. The Equipment segment sells equipment to franchisee-owned stores. The company was founded by Michael Grondahl and Marc Grondahl in 1992 and is headquartered in Newington, NH.