Planet Fitness Inc (PLNT) is Reiterated by Wedbush to Outperform, Raises Price Target to $ 21

Planet Fitness Inc (PLNT) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 21 from a previous price target of $20 . Wedbush advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on Planet Fitness Inc. Imperial Capital Initiated Planet Fitness Inc on Apr 14, 2016 to “Outperform”, Price Target of the shares are set at $21.Shares were Reiterated by Wedbush on Mar 7, 2016 to “Outperform” and Lowered the Price Target to $ 20 from a previous price target of $22 .

On the company’s financial health, Planet Fitness Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.13. The company had revenue of $83.30 million for the quarter, compared to analysts expectations of $78.76 million. The company’s revenue was up 8.3% compared to the same quarter last year.

Planet Fitness Inc. is a holding company. The Company through its subsidiary Pla-Fit Holdings LLC. is a franchisor and operator of fitness centers in the United States. 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. It operates through three segments including the Franchise segment the Corporate-owned stores segment and the Equipment segment. Its stores include around 20000 square feet of area and offer Planet Fitness-branded cardio circuit- and weight-training equipment. It also offers PE@PF fitness instruction program. As of June 30 2015 the Company owned 1014 stores including 58 corporate-owned stores and 956 franchisee-owned stores. It offers standard and PF Black Card memberships. It offers water massage beds massage chairs and tanning equipment among others to its PF Black Card members.

Planet Fitness Inc

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