Teacher Retirement System of Texas Has $494,000 Position in Planet Fitness, Inc. (NYSE:PLNT)

Teacher Retirement System of Texas grew its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,764 shares of the company’s stock after buying an additional 182 shares during the quarter. Teacher Retirement System of Texas’ holdings in Planet Fitness were worth $494,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cadian Capital Management LP raised its position in Planet Fitness by 164.7% in the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock worth $198,860,000 after purchasing an additional 2,516,007 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Planet Fitness by 20.0% during the 3rd quarter. Bamco Inc. NY now owns 1,200,000 shares of the company’s stock worth $59,016,000 after buying an additional 200,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Planet Fitness by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,028 shares of the company’s stock worth $64,899,000 after buying an additional 37,077 shares during the period. American Century Companies Inc. raised its stake in Planet Fitness by 66.8% during the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after acquiring an additional 351,401 shares in the last quarter. Finally, Hawk Ridge Capital Management LP bought a new position in shares of Planet Fitness during the third quarter valued at $29,476,000. 95.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $78.00 in a research report on Tuesday, May 14th. Royal Bank of Canada cut their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and decreased their target price for the stock from $80.00 to $70.00 in a report on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.86.

View Our Latest Report on PLNT

Planet Fitness Stock Performance

Shares of PLNT stock opened at $63.54 on Monday. The firm’s 50-day moving average is $61.84 and its 200-day moving average is $66.04. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.13 and a beta of 1.37. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $75.86.

Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Sell-side analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.

About Planet Fitness

(Free Report)

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

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