PLNT has been the topic of several other research reports. Zacks Investment Research raised Planet Fitness from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Wednesday, October 11th. BidaskClub raised Planet Fitness from a sell rating to a hold rating in a research report on Saturday, August 5th. Jefferies Group LLC reaffirmed a buy rating and issued a $29.00 target price on shares of Planet Fitness in a research report on Thursday, October 19th. Imperial Capital upped their target price on Planet Fitness from $25.00 to $28.00 and gave the company an outperform rating in a research report on Tuesday, August 15th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $31.00 target price (up previously from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $29.60.
Shares of Planet Fitness (PLNT) traded up $0.82 during midday trading on Friday, reaching $30.12. The company’s stock had a trading volume of 1,449,200 shares, compared to its average volume of 1,234,702. The firm has a market capitalization of $2,882.70, a P/E ratio of 36.64, a PEG ratio of 1.91 and a beta of 0.84. The company has a current ratio of 1.57, a quick ratio of 1.28 and a debt-to-equity ratio of -5.00. Planet Fitness has a 1 year low of $18.32 and a 1 year high of $30.22.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts forecast that Planet Fitness will post 0.82 EPS for the current fiscal year.
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In related news, CAO Richard L. Moore sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.02, for a total value of $248,584.00. Following the completion of the sale, the chief accounting officer now directly owns 9,200 shares in the company, valued at $248,584. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total value of $535,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,840 shares of company stock valued at $2,433,704. 19.87% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. BlackRock Inc. lifted its stake in Planet Fitness by 108.4% during the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in Planet Fitness during the second quarter worth $41,580,000. Junto Capital Management LP bought a new stake in Planet Fitness during the second quarter worth $37,227,000. DSAM Partners London Ltd bought a new stake in Planet Fitness during the second quarter worth $36,383,000. Finally, Vanguard Group Inc. lifted its stake in Planet Fitness by 30.2% during the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares during the last quarter.
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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