Planet Fitness (NYSE:PLNT) has been given an average rating of “Buy” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $38.00.
A number of research analysts have recently weighed in on PLNT shares. DA Davidson restated a “buy” rating on shares of Planet Fitness in a report on Wednesday, May 9th. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, May 11th. ValuEngine upgraded Planet Fitness from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Roth Capital set a $41.00 target price on Planet Fitness and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Planet Fitness in a report on Tuesday, February 27th.
Planet Fitness traded up $0.03, hitting $38.90, on Friday, MarketBeat reports. The stock had a trading volume of 34,038 shares, compared to its average volume of 1,203,308. The firm has a market cap of $3.83 billion, a P/E ratio of 46.00, a PEG ratio of 1.69 and a beta of 0.53. The company has a debt-to-equity ratio of -5.68, a quick ratio of 1.70 and a current ratio of 1.74. Planet Fitness has a 52 week low of $21.03 and a 52 week high of $41.67.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $121.30 million for the quarter, compared to analyst estimates of $115.75 million. Planet Fitness had a negative return on equity of 64.81% and a net margin of 9.60%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. equities analysts forecast that Planet Fitness will post 1.18 earnings per share for the current fiscal year.
Planet Fitness announced that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that allows the company to buyback $80.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of PLNT. Carillon Tower Advisers Inc. purchased a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $81,176,000. Waratah Capital Advisors Ltd. purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $45,913,000. Scopus Asset Management L.P. purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $33,615,000. Bamco Inc. NY purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $22,662,000. Finally, Investec Asset Management LTD increased its position in shares of Planet Fitness by 13.2% during the fourth quarter. Investec Asset Management LTD now owns 4,838,749 shares of the company’s stock valued at $167,566,000 after acquiring an additional 564,783 shares during the last quarter. 96.74% of the stock is owned by institutional investors.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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