Guggenheim Believes Planet Fitness (PLNT) Still Has Room to Grow


Guggenheim analyst John Heinbockel reiterated a Buy rating on Planet Fitness (NYSE: PLNT) on August 10 and set a price target of $55. The company’s shares closed on Friday at $51.94, close to its 52-week high of $53.41.

According to TipRanks.com, Heinbockel is a 4-star analyst with an average return of 16.5% and a 63.2% success rate. Heinbockel covers the Services sector, focusing on stocks such as Performance Food Group, US Food Holdings Corp, and United Natural Foods.

Currently, the analyst consensus on Planet Fitness is a Strong Buy with an average price target of $53.89, representing a 3.8% upside. In a report issued on August 9, Robert W. Baird also reiterated a Buy rating on the stock with a $56 price target.

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Planet Fitness’ market cap is currently $4.57B and has a P/E ratio of 78.70. The company has a Price to Book ratio of -57.10.

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Planet Fitness, Inc. engages in the operation and franchise of 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, Canada, the Dominican Republic, and Panama.

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