Planet Fitness, Inc. (PLNT) Stock Rating Reaffirmed by Robert W. Baird
Planet Fitness, Inc. (NYSE:PLNT)‘s stock had its “outperform” rating reissued by investment analysts at Robert W. Baird in a report released on Wednesday. They currently have a $31.00 price objective on the stock, up from their prior price objective of $28.00. Robert W. Baird’s price objective would indicate a potential upside of 18.01% from the stock’s previous close.
A number of other brokerages have also commented on PLNT. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Roth Capital set a $23.00 price objective on Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, August 10th. Imperial Capital raised their price objective on Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Finally, Cowen and Company restated an “outperform” rating and set a $28.00 price objective (up from $23.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.67.
Planet Fitness (NYSE:PLNT) traded down 0.84% on Wednesday, reaching $26.05. 192,079 shares of the company’s stock were exchanged. Planet Fitness has a 1-year low of $19.17 and a 1-year high of $27.22. The firm’s 50 day moving average is $26.37 and its 200 day moving average is $26.37. The stock has a market capitalization of $2.23 billion, a P/E ratio of 44.91 and a beta of 0.86.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 EPS 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 firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. Analysts expect that Planet Fitness will post $0.47 EPS for the current year.
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In other news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $26.75, for a total transaction of $535,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.87% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in PLNT. Teachers Advisors LLC lifted its holdings in shares of Planet Fitness by 72.7% during the 4th quarter. Teachers Advisors LLC now owns 44,550 shares of the company’s stock valued at $895,000 after buying an additional 18,754 shares during the last quarter. Swiss National Bank raised its stake in shares of Planet Fitness by 32.9% in the 1st 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 in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Planet Fitness by 49.6% in the 1st 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 in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Planet Fitness by 134.7% in the 1st quarter. Ameriprise Financial Inc. now owns 682,016 shares of the company’s stock valued at $13,133,000 after acquiring an additional 391,436 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Planet Fitness by 5.4% in the 1st 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 in the last quarter.
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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