Piper Jaffray Companies Weighs in on Planet Fitness Inc’s FY2018 Earnings (PLNT)

Planet Fitness Inc (NYSE:PLNT) – Research analysts at Piper Jaffray Companies upped their FY2018 earnings estimates for Planet Fitness in a note issued to investors on Tuesday, November 6th. Piper Jaffray Companies analyst P. Keith now forecasts that the company will post earnings of $1.20 per share for the year, up from their prior estimate of $1.13. Piper Jaffray Companies currently has a “Buy” rating and a $60.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ FY2020 earnings at $1.98 EPS.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Planet Fitness had a negative return on equity of 94.59% and a net margin of 11.22%. The company had revenue of $136.66 million for the quarter, compared to analyst estimates of $126.10 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. TheStreet raised Planet Fitness from a “c-” rating to a “b” rating in a report on Monday, August 6th. DA Davidson set a $58.00 price objective on Planet Fitness and gave the company a “buy” rating in a report on Tuesday, October 16th. Guggenheim lifted their price objective on Planet Fitness from $55.00 to $57.00 and gave the company a “buy” rating in a report on Monday, September 24th. Cowen reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Planet Fitness in a report on Sunday, August 12th. Finally, Roth Capital set a $55.00 price objective on Planet Fitness and gave the company a “buy” rating in a report on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.54.

Shares of PLNT opened at $54.99 on Thursday. Planet Fitness has a twelve month low of $28.98 and a twelve month high of $57.66. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 65.46, a price-to-earnings-growth ratio of 2.17 and a beta of 0.75.

In other news, CEO Christopher Rondeau sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $50.20, for a total transaction of $2,008,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dorvin D. Lively sold 105,127 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $51.23, for a total value of $5,385,656.21. Following the sale, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The disclosure for this sale can be found here. Insiders have sold a total of 500,226 shares of company stock worth $25,288,012 in the last three months. Corporate insiders own 19.87% of the company’s stock.

Several large investors have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of Planet Fitness by 1.8% during the 3rd quarter. American International Group Inc. now owns 58,694 shares of the company’s stock worth $3,171,000 after acquiring an additional 1,059 shares in the last quarter. Strs Ohio boosted its stake in shares of Planet Fitness by 11.6% during the 3rd quarter. Strs Ohio now owns 12,500 shares of the company’s stock worth $675,000 after acquiring an additional 1,300 shares in the last quarter. NumerixS Investment Technologies Inc boosted its stake in shares of Planet Fitness by 47.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock worth $230,000 after acquiring an additional 1,706 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Planet Fitness by 7.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 28,462 shares of the company’s stock worth $1,251,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Planet Fitness by 16.9% during the 2nd quarter. Amalgamated Bank now owns 13,525 shares of the company’s stock worth $594,000 after acquiring an additional 1,959 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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