Piper Jaffray Companies reaffirmed their overweight rating on shares of Planet Fitness (NYSE:PLNT) in a research report released on Monday, December 18th, Marketbeat Ratings reports.
A number of other brokerages have also weighed in on PLNT. Zacks Investment Research lowered shares of Planet Fitness from a buy rating to a hold rating in a research note on Wednesday, December 13th. DA Davidson initiated coverage on shares of Planet Fitness in a research report on Monday, November 20th. They set a buy rating for the company. Cowen reissued a buy rating and set a $30.00 price objective on shares of Planet Fitness in a research report on Friday, November 10th. Jefferies Group reissued a buy rating and set a $33.00 price objective on shares of Planet Fitness in a research report on Friday, November 10th. Finally, Bank of America boosted their price objective on shares of Planet Fitness from $32.00 to $33.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Planet Fitness has an average rating of Buy and a consensus price target of $32.88.
Shares of Planet Fitness (PLNT) traded down $1.15 on Monday, reaching $32.37. 1,394,200 shares of the company’s stock were exchanged, compared to its average volume of 1,060,000. The stock has a market cap of $3,180.00 and a price-to-earnings ratio of 48.31. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $35.03.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. research analysts expect that Planet Fitness will post 0.82 earnings per share for the current fiscal year.
In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $25.87, for a total transaction of $517,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard L. Moore sold 9,200 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $27.02, for a total transaction of $248,584.00. Following the transaction, the chief accounting officer now directly owns 9,200 shares of the company’s stock, valued at approximately $248,584. The disclosure for this sale can be found here. Insiders sold a total of 1,134,427 shares of company stock valued at $34,941,422 in the last ninety days. 19.87% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. Geneva Advisors LLC raised its position in Planet Fitness by 4.1% in the 2nd quarter. Geneva Advisors LLC now owns 40,691 shares of the company’s stock worth $950,000 after purchasing an additional 1,600 shares during the period. California Public Employees Retirement System raised its position in Planet Fitness by 10.5% in the 3rd quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after purchasing an additional 2,200 shares during the period. Wolverine Trading LLC raised its position in Planet Fitness by 24.5% in the 2nd quarter. Wolverine Trading LLC now owns 11,704 shares of the company’s stock worth $274,000 after purchasing an additional 2,304 shares during the period. Public Employees Retirement System of Ohio raised its position in Planet Fitness by 2.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock worth $2,089,000 after purchasing an additional 2,369 shares during the period. Finally, Mastrapasqua Asset Management Inc. raised its position in Planet Fitness by 12.4% in the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 24,985 shares of the company’s stock worth $674,000 after purchasing an additional 2,750 shares during the period.
About Planet Fitness
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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