Planet Fitness (NYSE:PLNT) had its target price increased by Imperial Capital from $45.00 to $55.00 in a report released on Friday, Marketbeat.com reports. The brokerage currently has an “inline” rating on the stock. Imperial Capital’s target price would suggest a potential upside of 0.02% from the company’s current price.
PLNT has been the subject of a number of other research reports. Guggenheim upped their price target on Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Bank of America increased their target price on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. cut Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Monday, August 13th. Finally, DA Davidson set a $58.00 target price on Planet Fitness and gave the company a “buy” rating in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Planet Fitness has an average rating of “Buy” and a consensus target price of $52.46.
NYSE PLNT opened at $54.99 on Friday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 65.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.75. Planet Fitness has a twelve month low of $28.98 and a twelve month high of $57.66.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $126.10 million. Planet Fitness had a negative return on equity of 94.59% and a net margin of 11.22%. Planet Fitness’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. Analysts forecast that Planet Fitness will post 1.2 earnings per share for the current fiscal year.
In related news, CFO Dorvin D. Lively sold 31,893 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 31,893 shares of the company’s stock, valued at $1,620,802.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher Rondeau sold 82,214 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $50.16, for a total value of $4,123,854.24. The disclosure for this sale can be found here. Insiders have sold 500,226 shares of company stock valued at $25,288,012 in the last three months. Insiders own 19.87% of the company’s stock.
Several large investors have recently bought and sold shares of PLNT. California Public Employees Retirement System raised its position in Planet Fitness by 20.1% during the first quarter. California Public Employees Retirement System now owns 32,080 shares of the company’s stock worth $1,212,000 after acquiring an additional 5,380 shares in the last quarter. UBS Group AG raised its position in Planet Fitness by 6.4% during the first quarter. UBS Group AG now owns 43,964 shares of the company’s stock worth $1,661,000 after acquiring an additional 2,659 shares in the last quarter. Millennium Management LLC raised its position in Planet Fitness by 64.2% during the first quarter. Millennium Management LLC now owns 64,845 shares of the company’s stock worth $2,449,000 after acquiring an additional 25,350 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Planet Fitness by 19.2% during the second quarter. Xact Kapitalforvaltning AB now owns 14,281 shares of the company’s stock worth $628,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Planet Fitness during the second quarter worth $338,000. 92.92% of the stock is owned by hedge funds and other institutional investors.
About Planet Fitness
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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