Jefferies Group Downgrades Planet Fitness (PLNT) to Hold

Planet Fitness (NYSE:PLNT) was downgraded by Jefferies Group from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other research analysts have also recently weighed in on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Robert W. Baird restated an “outperform” rating and set a $31.00 price target (up from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Cowen restated a “buy” rating and set a $30.00 price target on shares of Planet Fitness in a research note on Friday, November 10th. BidaskClub upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Imperial Capital upped their price target on shares of Planet Fitness from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $30.60.

Planet Fitness (NYSE PLNT) traded down $0.39 on Tuesday, reaching $32.51. 1,515,001 shares of the company’s stock were exchanged, compared to its average volume of 1,572,034. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. The stock has a market capitalization of $3,200.00 and a PE ratio of 48.52. Planet Fitness has a 52-week low of $18.32 and a 52-week high of $35.03.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to analysts’ expectations of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. sell-side analysts expect that Planet Fitness will post 0.82 EPS for the current year.

In other Planet Fitness news, CEO Christopher Rondeau sold 120,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $34.27, for a total value of $4,112,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Richard L. Moore sold 1,640 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the sale, the chief accounting officer now owns 1,640 shares in the company, valued at $44,280. The disclosure for this sale can be found here. Insiders sold a total of 1,074,427 shares of company stock worth $32,989,022 over the last quarter. Corporate insiders own 19.87% of the company’s stock.

Several large investors have recently modified their holdings of PLNT. Great West Life Assurance Co. Can increased its holdings in shares of Planet Fitness by 126.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,137 shares of the company’s stock worth $236,000 after buying an additional 5,662 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Planet Fitness by 42.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 343,217 shares of the company’s stock worth $8,011,000 after buying an additional 102,785 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Planet Fitness by 236.3% in the 2nd quarter. Rhumbline Advisers now owns 94,911 shares of the company’s stock worth $2,215,000 after buying an additional 66,687 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Planet Fitness by 244.8% in the 2nd quarter. Legal & General Group Plc now owns 20,904 shares of the company’s stock worth $489,000 after buying an additional 14,842 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Planet Fitness by 412.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,093 shares of the company’s stock worth $236,000 after buying an additional 8,125 shares during the last quarter.

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About Planet Fitness

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.

Analyst Recommendations for Planet Fitness (NYSE:PLNT)

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