A number of other brokerages also recently issued reports on PLNT. Zacks Investment Research downgraded Planet Fitness from a hold rating to a strong sell rating in a research report on Tuesday, February 21st. Guggenheim reiterated a buy rating and set a $24.00 price target on shares of Planet Fitness in a research report on Friday, December 23rd. Imperial Capital reiterated an outperform rating and set a $24.00 price target on shares of Planet Fitness in a research report on Friday, March 3rd. Roth Capital set a $23.00 target price on Planet Fitness and gave the company a buy rating in a report on Thursday, March 2nd. Finally, Goldman Sachs Group Inc assumed coverage on Planet Fitness in a report on Thursday, January 5th. They set an outperform rating and a $28.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $24.00.
Planet Fitness (NYSE:PLNT) traded down 0.75% during mid-day trading on Thursday, reaching $18.51. 279,735 shares of the company traded hands. Planet Fitness has a 12-month low of $15.00 and a 12-month high of $25.10. The company’s 50-day moving average is $19.69 and its 200-day moving average is $20.53. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 37.24 and a beta of 0.91.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, March 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Planet Fitness had a return on equity of 485.81% and a net margin of 3.65%. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.59 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
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In other news, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $18.67, for a total transaction of $373,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 220,000 shares of company stock valued at $4,374,400. Company insiders own 32.39% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Planet Fitness by 0.3% in the third quarter. First Trust Advisors LP now owns 51,814 shares of the company’s stock worth $1,040,000 after buying an additional 153 shares during the period. Bayesian Capital Management LP increased its stake in shares of Planet Fitness by 24.7% in the fourth quarter. Bayesian Capital Management LP now owns 13,109 shares of the company’s stock worth $263,000 after buying an additional 2,600 shares during the period. Fortaleza Asset Management Inc. increased its stake in shares of Planet Fitness by 50.1% in the fourth quarter. Fortaleza Asset Management Inc. now owns 9,885 shares of the company’s stock worth $199,000 after buying an additional 3,300 shares during the period. Allianz Asset Management AG increased its stake in shares of Planet Fitness by 27.5% in the fourth quarter. Allianz Asset Management AG now owns 32,890 shares of the company’s stock worth $661,000 after buying an additional 7,090 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock worth $383,000 after buying an additional 8,916 shares during the period. 90.78% of the stock is owned by institutional investors.
Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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