Brokerages Set Planet Fitness Inc. (PLNT) PT at $22.59
Shares of Planet Fitness Inc. (NYSE:PLNT) have earned an average recommendation of “Buy” from the fourteen analysts that are currently covering the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.59.
A number of equities analysts recently issued reports on PLNT shares. Wedbush reissued an “outperform” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Planet Fitness in a report on Thursday, August 11th. Piper Jaffray Cos. lifted their price target on shares of Planet Fitness from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 12th. Jefferies Group reaffirmed a “buy” rating and set a $26.00 price target (up previously from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Cowen and Company reaffirmed an “outperform” rating and set a $24.00 price target (up previously from $19.00) on shares of Planet Fitness in a report on Saturday, August 13th. Finally, Imperial Capital lifted their price target on shares of Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 15th.
In other news, insider Richard L. Moore sold 41,800 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $21.21, for a total value of $886,578.00. Following the transaction, the insider now owns 41,800 shares of the company’s stock, valued at $886,578. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $172,200.00. Following the completion of the transaction, the insider now directly owns 8,200 shares in the company, valued at approximately $172,200. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its position in Planet Fitness by 6.9% in the third quarter. Capital World Investors now owns 3,558,286 shares of the company’s stock valued at $71,415,000 after buying an additional 229,000 shares during the period. Vanguard Group Inc. increased its position in Planet Fitness by 66.8% in the second quarter. Vanguard Group Inc. now owns 1,635,810 shares of the company’s stock valued at $30,884,000 after buying an additional 654,918 shares during the period. Citadel Advisors LLC increased its position in Planet Fitness by 339.3% in the second quarter. Citadel Advisors LLC now owns 1,410,132 shares of the company’s stock valued at $26,623,000 after buying an additional 1,089,135 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Planet Fitness during the second quarter valued at $23,815,000. Finally, Copper Rock Capital Partners LLC acquired a new stake in shares of Planet Fitness during the second quarter valued at $19,279,000. 85.46% of the stock is currently owned by hedge funds and other institutional investors.
Planet Fitness (NYSE:PLNT) traded up 0.08% during trading on Wednesday, hitting $24.11. 341,990 shares of the company traded hands. The company’s 50 day moving average is $20.54 and its 200-day moving average is $19.51. Planet Fitness has a 52 week low of $13.23 and a 52 week high of $24.85. The stock has a market capitalization of $1.21 billion, a PE ratio of 87.67 and a beta of 0.85.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $87 million for the quarter, compared to the consensus estimate of $79.32 million. Planet Fitness had a net margin of 3.65% and a return on equity of 485.81%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Analysts predict that Planet Fitness will post $0.47 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be issued a $2.78 dividend. The ex-dividend date is Friday, November 18th.
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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