Planet Fitness Inc. (PLNT) Stock Rating Reaffirmed by Guggenheim
Planet Fitness Inc. (NYSE:PLNT)‘s stock had its “buy” rating reiterated by research analysts at Guggenheim in a report issued on Wednesday. They presently have a $24.00 price objective on the stock. Guggenheim’s price target would suggest a potential upside of 12.36% from the company’s previous close.
A number of other brokerages have also commented on PLNT. TheStreet upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Roth Capital set a $23.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, October 27th. Piper Jaffray Cos. lifted their price target on shares of Planet Fitness from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, August 12th. Finally, Imperial Capital lifted their price target on shares of Planet Fitness from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $23.18.
Shares of Planet Fitness (NYSE:PLNT) opened at 21.36 on Wednesday. Planet Fitness has a 12-month low of $13.23 and a 12-month high of $25.10. The company’s 50-day moving average is $21.02 and its 200-day moving average is $19.93. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 77.67 and a beta of 0.85.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business earned $87 million during the quarter, compared to analyst estimates of $79.32 million. Planet Fitness had a net margin of 3.65% and a return on equity of 485.81%. Planet Fitness’s revenue was up 26.5% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Equities research analysts predict that Planet Fitness will post $0.47 earnings per share for the current year.
The company also recently disclosed a special dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $2.78 per share. The ex-dividend date of this dividend is Friday, November 18th.
In related news, insider Richard L. Moore sold 8,200 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were 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 of the company’s stock, valued at $172,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 2,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $24.57, for a total transaction of $49,140.00. The disclosure for this sale can be found here. Insiders own 32.39% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD boosted its position in Planet Fitness by 129.9% in the third quarter. BlackRock Group LTD now owns 5,923 shares of the company’s stock valued at $119,000 after buying an additional 3,347 shares during the last quarter. BlackRock Advisors LLC boosted its position 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 last quarter. American International Group Inc. boosted its position 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 last quarter. Penserra Capital Management LLC bought a new position in Planet Fitness during the third quarter valued at $182,000. Finally, Fortaleza Asset Management Inc. boosted its position in Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock valued at $187,000 after buying an additional 3,785 shares during the last quarter. 81.29% of the stock is owned by institutional investors.
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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