A number of other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Planet Fitness from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Wednesday, April 18th. TheStreet raised Planet Fitness from a c- rating to a b rating in a report on Monday, August 6th. Cowen lifted their target price on Planet Fitness from $45.00 to $50.00 and gave the stock an outperform rating in a report on Monday, June 11th. DA Davidson set a $45.00 target price on Planet Fitness and gave the stock a buy rating in a report on Monday, April 23rd. Finally, Bank of America lifted their target price on Planet Fitness from $45.00 to $56.00 and gave the stock a buy rating in a report on Thursday, July 12th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $52.09.
Planet Fitness traded up $3.15, reaching $51.94, during trading hours on Friday, MarketBeat.com reports. 3,689,866 shares of the company traded hands, compared to its average volume of 966,541. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 61.83, a PEG ratio of 2.08 and a beta of 0.52. Planet Fitness has a 1 year low of $23.49 and a 1 year high of $53.41. The company has a current ratio of 1.74, a quick ratio of 1.70 and a debt-to-equity ratio of -5.68.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $140.55 million during the quarter, compared to analysts’ expectations of $130.99 million. Planet Fitness had a negative return on equity of 76.38% and a net margin of 11.68%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. equities research analysts predict that Planet Fitness will post 1.12 EPS for the current year.
In related news, CEO Christopher Rondeau sold 2,300 shares of Planet Fitness stock in a transaction on Friday, July 20th. The stock was sold at an average price of $50.01, for a total value of $115,023.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 438,446 shares of company stock valued at $20,255,037 in the last ninety days. 19.87% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc grew its holdings in shares of Planet Fitness by 47.4% in the second quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock worth $230,000 after acquiring an additional 1,706 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Planet Fitness by 10.2% in the first quarter. Commonwealth Equity Services LLC now owns 20,670 shares of the company’s stock worth $780,000 after acquiring an additional 1,906 shares during the period. Amalgamated Bank grew its holdings in shares of Planet Fitness by 16.9% in the second quarter. Amalgamated Bank now owns 13,525 shares of the company’s stock worth $594,000 after acquiring an additional 1,959 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Planet Fitness by 44.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,194 shares of the company’s stock worth $316,000 after acquiring an additional 2,200 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Planet Fitness by 20.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 13,090 shares of the company’s stock worth $575,000 after acquiring an additional 2,200 shares during the period. 94.00% 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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