Zacks Investment Research cut shares of Planet Fitness, Inc. (NYSE:PLNT) from a buy rating to a hold rating in a research note released on Wednesday, October 18th.
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. “
Other research analysts have also recently issued reports about the stock. Roth Capital upped their price target on shares of Planet Fitness from $23.00 to $27.00 and gave the company a buy rating in a research report on Monday, August 21st. Jefferies Group LLC restated a buy rating and issued a $29.00 price target (up previously from $26.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Cowen and Company restated an outperform rating and issued a $28.00 price target (up previously from $23.00) on shares of Planet Fitness in a research report on Thursday, August 10th. BidaskClub upgraded shares of Planet Fitness from a hold rating to a buy rating in a research report on Tuesday, June 27th. Finally, Robert W. Baird restated an outperform rating and issued a $31.00 price target (up previously from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $28.00.
Shares of Planet Fitness (PLNT) traded down 0.19% on Wednesday, hitting $25.90. The stock had a trading volume of 642,043 shares. The stock has a 50 day moving average of $26.33 and a 200 day moving average of $26.33. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 44.66 and a beta of 0.86. Planet Fitness has a 12-month low of $19.56 and a 12-month high of $27.22.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Equities analysts predict that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
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In related news, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total value of $535,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock worth $1,581,000. 19.87% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PLNT. BlackRock Inc. boosted its holdings in Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after purchasing an additional 2,496,984 shares during the period. Wasatch Advisors Inc. bought a new stake in Planet Fitness in the 2nd quarter valued at $41,580,000. Junto Capital Management LP bought a new stake in Planet Fitness in the 2nd quarter valued at $37,227,000. DSAM Partners London Ltd bought a new stake in Planet Fitness in the 2nd quarter valued at $36,383,000. Finally, Vanguard Group Inc. boosted its holdings in Planet Fitness by 30.2% in the 2nd quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock valued at $151,286,000 after purchasing an additional 1,504,593 shares during the period.
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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