Planet Fitness, Inc. (NYSE:PLNT – Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 10,338 call options on the stock. This represents an increase of 154% compared to the typical daily volume of 4,075 call options.
Analyst Ratings Changes
A number of equities research analysts have issued reports on PLNT shares. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $92.00 in a research note on Monday. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Finally, Robert W. Baird boosted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $77.64.
Check Out Our Latest Report on PLNT
Institutional Trading of Planet Fitness
A number of institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its stake in shares of Planet Fitness by 568.8% in the first quarter. Cetera Advisors LLC now owns 25,320 shares of the company’s stock valued at $1,586,000 after acquiring an additional 21,534 shares during the period. Cetera Investment Advisers grew its holdings in Planet Fitness by 74.5% during the 1st quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock valued at $3,676,000 after purchasing an additional 25,054 shares during the last quarter. Virtu Financial LLC raised its position in Planet Fitness by 72.2% in the 1st quarter. Virtu Financial LLC now owns 5,611 shares of the company’s stock worth $351,000 after purchasing an additional 2,352 shares during the period. Tidal Investments LLC lifted its stake in Planet Fitness by 71.3% in the first quarter. Tidal Investments LLC now owns 4,941 shares of the company’s stock worth $309,000 after purchasing an additional 2,056 shares during the last quarter. Finally, Ionic Capital Management LLC purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $814,000. 95.53% of the stock is currently owned by institutional investors.
Planet Fitness Stock Up 0.5 %
Shares of NYSE:PLNT opened at $73.36 on Wednesday. The firm has a fifty day simple moving average of $64.91 and a two-hundred day simple moving average of $66.41. The stock has a market capitalization of $6.47 billion, a P/E ratio of 42.16, a PEG ratio of 2.44 and a beta of 1.43. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $248.00 million for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, analysts expect that Planet Fitness will post 2.43 earnings per share for the current year.
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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