Planet Fitness, Inc. (PLNT) Given Consensus Recommendation of “Buy” by Analysts
Planet Fitness, Inc. (NYSE:PLNT) has been given an average rating of “Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.00.
A number of equities analysts have recently weighed in on the company. BidaskClub raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research report on Thursday, September 14th. Finally, Roth Capital lifted their price objective on Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 21st.
Shares of Planet Fitness (PLNT) traded up 0.68% during mid-day trading on Thursday, reaching $26.83. The company’s stock had a trading volume of 790,331 shares. The firm has a market capitalization of $2.30 billion, a P/E ratio of 46.26 and a beta of 0.86. The company’s 50-day moving average is $26.37 and its 200 day moving average is $26.37. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $27.22.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The company had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts expect that Planet Fitness will post $0.47 earnings per share for the current year.
In other news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $26.75, for a total value of $535,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.87% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of PLNT. Swiss National Bank grew its position in Planet Fitness by 32.9% during the first quarter. Swiss National Bank now owns 112,985 shares of the company’s stock valued at $2,177,000 after acquiring an additional 28,000 shares during the period. UBS Asset Management Americas Inc. grew its position in Planet Fitness by 49.6% during the first quarter. UBS Asset Management Americas Inc. now owns 17,502 shares of the company’s stock valued at $337,000 after acquiring an additional 5,800 shares during the period. Parametric Portfolio Associates LLC grew its position in Planet Fitness by 5.4% during the first quarter. Parametric Portfolio Associates LLC now owns 210,677 shares of the company’s stock valued at $4,060,000 after acquiring an additional 10,887 shares during the period. American International Group Inc. grew its position in Planet Fitness by 75.7% during the first quarter. American International Group Inc. now owns 15,869 shares of the company’s stock valued at $306,000 after acquiring an additional 6,835 shares during the period. Finally, Principal Financial Group Inc. grew its position in Planet Fitness by 4.9% during the first quarter. Principal Financial Group Inc. now owns 790,192 shares of the company’s stock valued at $15,227,000 after acquiring an additional 36,966 shares during the period.
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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