Stephens Says Its Time To “Equal-weight” Planet Fitness (NYSE:PLNT). Will Stock Hit Their Target of $19.00?

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Why Has Stephens Given Planet Fitness (NYSE:PLNT) a $19.00 Price Target

The broker Stephens has today have begun coverage on Planet Fitness (NYSE:PLNT) shares, with a “Equal-weight” rating, while giving it the target at $19.00.

From a total of 10 analysts covering Planet Fitness (NYSE:PLNT) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. The highest target price is $25 while the lowest target price is $19. The mean of all analyst targets is $21.11 with a 33.95% above today’s ($15.76) stock price. Planet Fitness was the topic of 12 analyst reports since August 31, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on November 13 with “Overweight” rating. JP Morgan initiated shares with “Overweight” rating and $20 target share price in a report from an August 31. Bank of America maintained PLNT stock in a recent report from September 3 with “Buy” rating. Cowen & Co initiated the rating on August 31. Cowen & Co has a “Outperform” rating and a $21 price target on shares. Finally, Guggenheim initiated the stock with “Buy” rating in a report issued on an August 31.

Approximately 88,644 shares of stock traded hands. Planet Fitness Inc (NYSE:PLNT) has risen 6.00% since November 3, 2015 and is uptrending. It has outperformed by 6.29% the S&P500.

Stephens Says Its Time To

Planet Fitness, Inc. is a holding company. The company has a market cap of $1.56 billion. The Company, through its subsidiary, Pla-Fit Holdings, LLC., is a franchisor and operator of fitness centers in the United States. It has 394 P/E ratio. 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.

According to Zacks Investment Research, “Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. The company’s operating segments consists of Franchise, Corporate-owned stores and Equipment. 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. Planet Fitness, Inc. is headquartered in Newington, New Hampshire.” Get a free copy of the Zacks research report on Planet Fitness Inc (PLNT).

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