Planet Fitness, Inc. (NYSE:PLNT – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $68.07, but opened at $70.79. Planet Fitness shares last traded at $71.66, with a volume of 156,500 shares.
Wall Street Analyst Weigh In
PLNT has been the subject of several research reports. Raymond James lifted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. Royal Bank of Canada lowered their price objective on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $100.00 in a research note on Monday. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. Finally, Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and decreased their target price for the company from $80.00 to $70.00 in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $75.00.
Get Our Latest Report on Planet Fitness
Planet Fitness Price Performance
The business’s fifty day simple moving average is $62.82 and its two-hundred day simple moving average is $66.04. The company has a market cap of $6.30 billion, a PE ratio of 41.03, a PEG ratio of 2.39 and a beta of 1.43.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts predict that Planet Fitness, Inc. will post 2.42 EPS for the current year.
Institutional Trading of Planet Fitness
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Planet Fitness in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Planet Fitness in the 4th quarter valued at about $47,000. Asset Management One Co. Ltd. boosted its holdings in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Planet Fitness Company Profile
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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