Roth Capital analyst Dave King 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, King is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.8% and a 38.8% success rate. King covers the Consumer Goods sector, focusing on stocks such as Differential Brands Group, Clarus Corporation, and Acushnet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Planet Fitness with a $53.67 average price target, a 3.3% upside from current levels. In a report issued on August 2, Guggenheim also reiterated a Buy rating on the stock with a $53 price target.
Based on Planet Fitness’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $25.87 million. In comparison, last year the company had a net profit of $12.41 million.
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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.