Planet Fitness Inc (NYSE:PLNT) – Stock analysts at William Blair upped their Q4 2017 earnings estimates for shares of Planet Fitness in a research report issued to clients and investors on Tuesday. William Blair analyst S. Zackfia now forecasts that the company will earn $0.23 per share for the quarter, up from their previous estimate of $0.22. William Blair also issued estimates for Planet Fitness’ Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.33 EPS, FY2018 earnings at $1.12 EPS and FY2019 earnings at $1.35 EPS.
A number of other equities analysts also recently commented on PLNT. Roth Capital set a $36.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Tuesday. Cowen reissued a “buy” rating and issued a $30.00 price objective on shares of Planet Fitness in a research note on Friday, November 10th. Imperial Capital boosted their price objective on shares of Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Jefferies Group reissued a “buy” rating and issued a $33.00 price objective on shares of Planet Fitness in a research note on Friday, November 10th. Finally, DA Davidson assumed coverage on shares of Planet Fitness in a research note on Monday, November 20th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Planet Fitness has an average rating of “Buy” and a consensus price target of $35.13.
Planet Fitness (PLNT) opened at $33.68 on Wednesday. The company has a market cap of $3,184.99, a P/E ratio of 40.47, a P/E/G ratio of 1.72 and a beta of 0.79. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $35.03. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00.
In other Planet Fitness news, CEO Christopher Rondeau sold 40,000 shares of Planet Fitness stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total value of $1,216,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Dorvin D. Lively sold 38,674 shares of Planet Fitness stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.29, for a total transaction of $1,248,783.46. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares in the company, valued at $1,248,783.46. The disclosure for this sale can be found here. Insiders sold 688,674 shares of company stock worth $22,503,951 over the last ninety days. Corporate insiders own 19.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Planet Fitness in the fourth quarter worth $104,000. SG Americas Securities LLC purchased a new position in Planet Fitness in the fourth quarter worth $114,000. Envestnet Asset Management Inc. grew its holdings in Planet Fitness by 164.0% in the third quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock worth $131,000 after purchasing an additional 3,022 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Planet Fitness by 234.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after purchasing an additional 5,189 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Planet Fitness by 81.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after purchasing an additional 2,244 shares during the last quarter.
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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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