Planet Fitness Inc (NYSE:PLNT) – Investment analysts at DA Davidson increased their FY2018 earnings per share (EPS) estimates for Planet Fitness in a research report issued to clients and investors on Wednesday, November 7th. DA Davidson analyst M. Kawamoto now anticipates that the company will earn $1.20 per share for the year, up from their prior estimate of $1.12. DA Davidson has a “Buy” rating and a $58.00 price objective on the stock. DA Davidson also issued estimates for Planet Fitness’ Q4 2018 earnings at $0.32 EPS, Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.39 EPS and FY2020 earnings at $1.57 EPS.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $136.66 million for the quarter, compared to analyst estimates of $126.10 million. Planet Fitness had a negative return on equity of 94.59% and a net margin of 11.22%. The company’s quarterly revenue was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS.
PLNT has been the topic of a number of other research reports. TheStreet raised Planet Fitness from a “c-” rating to a “b” rating in a research note on Monday, August 6th. Roth Capital set a $55.00 target price on Planet Fitness and gave the company a “buy” rating in a research note on Saturday, August 11th. ValuEngine raised Planet Fitness from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Guggenheim upped their target price on Planet Fitness from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Finally, Imperial Capital upped their target price on Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $51.54.
Shares of NYSE:PLNT opened at $54.99 on Thursday. The company has a market cap of $4.67 billion, a PE ratio of 65.46, a PEG ratio of 2.17 and a beta of 0.75. Planet Fitness has a 12 month low of $28.98 and a 12 month high of $57.66.
In other Planet Fitness news, CFO Dorvin D. Lively sold 31,893 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $50.82, for a total value of $1,620,802.26. Following the completion of the transaction, the chief financial officer now directly owns 31,893 shares in the company, valued at approximately $1,620,802.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 80,000 shares of the business’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $50.81, for a total value of $4,064,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,226 shares of company stock worth $25,288,012. 19.87% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware acquired a new position in Planet Fitness in the 3rd quarter valued at $136,000. Harvest Fund Management Co. Ltd acquired a new position in Planet Fitness in the 3rd quarter valued at $156,000. Sawtooth Solutions LLC acquired a new position in Planet Fitness in the 3rd quarter valued at $218,000. Kovack Advisors Inc. acquired a new position in Planet Fitness in the 3rd quarter valued at $230,000. Finally, Keybank National Association OH acquired a new position in Planet Fitness in the 3rd quarter valued at $239,000. Institutional investors own 92.92% of the company’s stock.
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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