Zacks Investment Research upgraded shares of Planet Fitness, Inc. (NYSE:PLNT) from a hold rating to a buy rating in a report issued on Wednesday, July 12th. They currently have $25.00 price objective on the stock.
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. “
Several other research firms have also recently commented on PLNT. BidaskClub raised Planet Fitness from a sell rating to a hold rating in a research note on Friday, June 16th. Guggenheim reissued a buy rating and issued a $24.00 price objective on shares of Planet Fitness in a research note on Thursday, April 6th. Robert W. Baird reissued an outperform rating and issued a $28.00 price objective on shares of Planet Fitness in a research note on Thursday, April 6th. Jefferies Group LLC raised their price objective on Planet Fitness from $25.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, May 3rd. Finally, Roth Capital reissued a buy rating and issued a $23.00 price objective on shares of Planet Fitness in a research note on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Planet Fitness currently has an average rating of Buy and an average price target of $25.91.
Planet Fitness (NYSE:PLNT) traded down 2.31% on Wednesday, hitting $24.55. The company had a trading volume of 2,401,579 shares. The firm has a market capitalization of $1.94 billion, a PE ratio of 42.33 and a beta of 0.90. Planet Fitness has a 12-month low of $18.32 and a 12-month high of $25.19. The firm has a 50-day moving average price of $23.21 and a 200-day moving average price of $21.31.
Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Planet Fitness had a negative return on equity of 60.67% and a net margin of 8.77%. The business had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts anticipate that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock worth $94,002,000 after buying an additional 3,381,810 shares in the last quarter. BlackRock Inc. raised its position in Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after buying an additional 2,496,984 shares in the last quarter. DSAM Partners London Ltd bought a new position in Planet Fitness during the second quarter worth $36,383,000. Vanguard Group Inc. raised its position in Planet Fitness by 30.2% in the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after buying an additional 1,504,593 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Planet Fitness by 54,692.9% in the first quarter. Victory Capital Management Inc. now owns 1,351,742 shares of the company’s stock worth $26,047,000 after buying an additional 1,349,275 shares in the last quarter. Institutional investors own 94.72% of the company’s stock.
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.
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