Planet Fitness Inc. (PLNT) Receives $22.35 Average Target Price from Analysts
Shares of Planet Fitness Inc. (NYSE:PLNT) have earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the firm. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $22.35.
A number of equities analysts have issued reports on the company. Credit Suisse Group AG restated an “outperform” rating and set a $19.00 target price on shares of Planet Fitness in a report on Monday, June 27th. Piper Jaffray Cos. restated an “overweight” rating and set a $21.00 target price (up previously from $20.00) on shares of Planet Fitness in a report on Wednesday, June 29th. Imperial Capital lifted their price objective on Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Wedbush reiterated an “outperform” rating and set a $23.00 price objective (up previously from $21.00) on shares of Planet Fitness in a report on Thursday, August 11th. Finally, Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, August 16th.
Shares of Planet Fitness (NYSE:PLNT) traded down 1.06% during trading on Wednesday, hitting $19.60. The stock had a trading volume of 373,826 shares. The firm has a 50 day moving average of $20.55 and a 200 day moving average of $18.70. Planet Fitness has a 1-year low of $13.23 and a 1-year high of $23.41. The company’s market capitalization is $871.98 million.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm earned $91.50 million during the quarter, compared to analyst estimates of $78.95 million. Planet Fitness had a return on equity of 2,244.54% and a net margin of 1.74%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. Analysts expect that Planet Fitness will post $0.47 EPS for the current fiscal year.
In related news, insider Richard L. Moore sold 8,200 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $21.00, for a total value of $172,200.00. Following the completion of the sale, the insider now directly owns 8,200 shares in the company, valued at approximately $172,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $19.91, for a total value of $398,200.00. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PLNT. BlackRock Advisors LLC increased its stake in Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock valued at $146,000 after buying an additional 240 shares during the period. American International Group Inc. increased its stake in Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock valued at $171,000 after buying an additional 288 shares during the period. Commonwealth Equity Services Inc increased its stake in Planet Fitness by 2.4% in the second quarter. Commonwealth Equity Services Inc now owns 15,948 shares of the company’s stock valued at $301,000 after buying an additional 373 shares during the period. Nationwide Fund Advisors increased its stake in Planet Fitness by 4.6% in the second quarter. Nationwide Fund Advisors now owns 10,261 shares of the company’s stock valued at $194,000 after buying an additional 452 shares during the period. Finally, Barclays PLC increased its stake in Planet Fitness by 11.0% in the second quarter. Barclays PLC now owns 31,976 shares of the company’s stock valued at $603,000 after buying an additional 3,176 shares during the period. Institutional investors and hedge funds own 83.52% of the company’s stock.
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 its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
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