Planet Fitness Inc (NYSE:PLNT) has earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $58.31.
A number of research firms have recently commented on PLNT. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America reissued a “buy” rating and set a $72.00 target price (up from $68.00) on shares of Planet Fitness in a research note on Thursday. Roth Capital increased their target price on shares of Planet Fitness from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. DA Davidson increased their target price on shares of Planet Fitness to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wedbush increased their target price on shares of Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday.
In other Planet Fitness news, CEO Christopher Rondeau sold 15,500 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $60.53, for a total transaction of $938,215.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.38% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Ffcm LLC acquired a new position in Planet Fitness during the fourth quarter worth $26,000. Meeder Asset Management Inc. raised its holdings in Planet Fitness by 99.3% during the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after buying an additional 284 shares during the last quarter. Bessemer Group Inc. raised its holdings in Planet Fitness by 30.6% during the fourth quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock worth $60,000 after buying an additional 264 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Planet Fitness during the third quarter worth $136,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Planet Fitness during the third quarter worth $156,000. Hedge funds and other institutional investors own 90.59% of the company’s stock.
Shares of NYSE:PLNT traded up $2.39 during trading on Monday, reaching $61.17. The stock had a trading volume of 1,985,709 shares, compared to its average volume of 1,062,725. Planet Fitness has a 52 week low of $35.92 and a 52 week high of $61.90. The firm has a market cap of $5.66 billion, a P/E ratio of 50.14, a P/E/G ratio of 2.08 and a beta of 0.73.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The company had revenue of $174.40 million for the quarter, compared to analyst estimates of $173.76 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 30.1% on a year-over-year basis. As a group, equities analysts expect that Planet Fitness will post 1.54 EPS for the current year.
About Planet Fitness
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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