Shares of Planet Fitness Inc (NYSE:PLNT) have been assigned a consensus recommendation of “Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.14.
Several brokerages have weighed in on PLNT. DA Davidson began coverage on shares of Planet Fitness in a report on Monday, November 20th. They set a “buy” rating on the stock. Piper Jaffray Companies reiterated an “overweight” rating on shares of Planet Fitness in a research report on Monday, December 18th. Jefferies Group reiterated a “hold” rating and set a $35.00 price objective on shares of Planet Fitness in a research report on Friday, February 23rd. Guggenheim reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, February 23rd. Finally, Cowen set a $41.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Friday, February 23rd.
In other news, CEO Christopher Rondeau sold 120,000 shares of Planet Fitness stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $34.27, for a total transaction of $4,112,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 340,000 shares of company stock worth $11,418,000. Company insiders own 19.87% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dai Ichi Life Insurance Company Ltd bought a new stake in Planet Fitness in the third quarter worth $3,722,000. Sheets Smith Wealth Management bought a new position in Planet Fitness during the fourth quarter valued at $364,000. Brown Advisory Inc. bought a new position in Planet Fitness during the third quarter valued at $427,000. KAMES CAPITAL plc bought a new position in Planet Fitness during the fourth quarter valued at $1,339,000. Finally, California Public Employees Retirement System increased its position in Planet Fitness by 10.5% during the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock valued at $626,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.
Shares of Planet Fitness (PLNT) traded down $0.70 during trading hours on Friday, reaching $38.65. 330,757 shares of the company’s stock traded hands, compared to its average volume of 1,259,194. The company has a debt-to-equity ratio of -5.09, a current ratio of 1.58 and a quick ratio of 1.56. Planet Fitness has a twelve month low of $18.32 and a twelve month high of $40.04. The stock has a market capitalization of $3,870.00 and a P/E ratio of 9.08.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Planet Fitness had a net margin of 7.71% and a negative return on equity of 52.97%. The business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $131.11 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. research analysts expect that Planet Fitness will post 1.18 EPS for the current year.
Planet Fitness announced that its board has initiated a stock repurchase plan on Thursday, February 22nd that authorizes the company to buyback $80.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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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