Planet Fitness (NYSE:PLNT) had its price objective lifted by analysts at Imperial Capital from $33.00 to $38.00 in a report issued on Friday, January 5th, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Imperial Capital’s price target suggests a potential upside of 13.37% from the company’s current price. Imperial Capital also issued estimates for Planet Fitness’ Q4 2018 earnings at $0.28 EPS.
Other analysts have also issued research reports about the company. Piper Jaffray Companies reissued an “overweight” rating on shares of Planet Fitness in a report on Monday, December 18th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, October 26th. Bank of America upped their target price on Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Jefferies Group reissued a “buy” rating and issued a $33.00 target price on shares of Planet Fitness in a report on Friday, November 10th. Finally, DA Davidson initiated coverage on Planet Fitness in a research note on Monday, November 20th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.88.
Shares of Planet Fitness (NYSE PLNT) opened at $33.52 on Friday. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $35.03. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. The company has a market capitalization of $3,300.00 and a P/E ratio of 50.03.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $93.55 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. Planet Fitness’s quarterly revenue was up 12.1% on a year-over-year basis. research analysts forecast that Planet Fitness will post 0.82 EPS for the current fiscal year.
In other news, CEO Christopher Rondeau sold 120,000 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $34.27, for a total value of $4,112,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Richard L. Moore sold 9,200 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $27.02, for a total value of $248,584.00. Following the completion of the transaction, the chief accounting officer now owns 9,200 shares in the company, valued at $248,584. The disclosure for this sale can be found here. Insiders have sold 1,134,427 shares of company stock worth $34,941,422 over the last quarter. 19.87% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in shares of Planet Fitness by 164.0% in the third quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after buying an additional 3,022 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Planet Fitness in the second quarter valued at about $145,000. Ameritas Investment Partners Inc. grew its stake in shares of Planet Fitness by 234.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after buying an additional 5,189 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Planet Fitness in the third quarter valued at about $214,000. Finally, Great West Life Assurance Co. Can grew its stake in Planet Fitness by 126.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 10,137 shares of the company’s stock valued at $236,000 after purchasing an additional 5,662 shares in the last quarter.
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Planet Fitness Company Profile
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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