Recent Investment Analysts’ Ratings Updates for Planet Fitness (PLNT)

Several brokerages have updated their recommendations and price targets on shares of Planet Fitness (NYSE: PLNT) in the last few weeks:

  • 3/1/2019 – Planet Fitness was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 2/28/2019 – Planet Fitness had its “buy” rating reaffirmed by analysts at Bank of America Corp. They now have a $72.00 price target on the stock, up previously from $68.00.
  • 2/27/2019 – Planet Fitness had its price target raised by analysts at Wedbush from $55.00 to $60.00. They now have a “neutral” rating on the stock.
  • 2/27/2019 – Planet Fitness had its price target raised by analysts at Roth Capital from $55.00 to $65.00. They now have a “buy” rating on the stock.
  • 2/27/2019 – Planet Fitness had its price target raised by analysts at DA Davidson to $70.00. They now have a “buy” rating on the stock.
  • 2/22/2019 – Planet Fitness was upgraded by analysts at Jefferies Financial Group Inc from a “hold” rating to a “buy” rating. They now have a $75.00 price target on the stock, up previously from $49.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 2/15/2019 – Planet Fitness was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. The company’s operating segments consists of Franchise, Corporate-owned stores and Equipment. 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. Planet Fitness, Inc. is headquartered in Newington, New Hampshire. “

Shares of PLNT stock opened at $68.07 on Wednesday. Planet Fitness Inc has a twelve month low of $35.92 and a twelve month high of $68.46. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 2.36 and a beta of 0.71.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Planet Fitness had a negative return on equity of 67.65% and a net margin of 15.36%. The business had revenue of $174.40 million during the quarter, compared to analysts’ expectations of $173.76 million. During the same period in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts predict that Planet Fitness Inc will post 1.54 earnings per share for the current fiscal year.

In other news, Director David P. Berg sold 6,291 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now directly owns 6,615 shares of the company’s stock, valued at approximately $408,343.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 6,000 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. Insiders sold a total of 466,291 shares of company stock valued at $29,813,238 over the last quarter. Company insiders own 16.38% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Commonwealth Equity Services LLC raised its position in shares of Planet Fitness by 13.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,168 shares of the company’s stock worth $1,251,000 after acquiring an additional 2,694 shares in the last quarter. Keybank National Association OH acquired a new position in Planet Fitness during the 3rd quarter valued at about $239,000. AXA increased its position in Planet Fitness by 0.9% during the 3rd quarter. AXA now owns 361,250 shares of the company’s stock valued at $19,519,000 after buying an additional 3,391 shares in the last quarter. BlackRock Inc. increased its position in Planet Fitness by 1.5% during the 3rd quarter. BlackRock Inc. now owns 6,120,786 shares of the company’s stock valued at $330,705,000 after buying an additional 93,335 shares in the last quarter. Finally, American International Group Inc. increased its position in Planet Fitness by 1.8% during the 3rd quarter. American International Group Inc. now owns 58,694 shares of the company’s stock valued at $3,171,000 after buying an additional 1,059 shares in the last quarter. 94.04% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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