Planet Fitness Inc (NYSE:PLNT) – Wedbush boosted their FY2019 earnings per share estimates for Planet Fitness in a research note issued on Wednesday, November 7th. Wedbush analyst J. Hardiman now expects that the company will earn $1.54 per share for the year, up from their previous estimate of $1.51. Wedbush has a “Neutral” rating and a $48.00 price target on the stock.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $136.66 million during the quarter, compared to analyst estimates of $126.10 million. Planet Fitness had a negative return on equity of 94.59% and a net margin of 11.22%. Planet Fitness’s revenue was up 40.2% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share.

A number of other research firms have also issued reports on PLNT. Imperial Capital lifted their target price on Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a report on Friday, August 10th. JPMorgan Chase & Co. lowered Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Monday, August 13th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Saturday. Robert W. Baird reiterated a “buy” rating and issued a $56.00 target price (up from $50.00) on shares of Planet Fitness in a report on Friday, August 10th. Finally, Bank of America lifted their target price on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $52.46.

NYSE:PLNT opened at $54.99 on Friday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 65.46, a P/E/G ratio of 2.41 and a beta of 0.75. Planet Fitness has a 12-month low of $28.98 and a 12-month high of $57.66.

In other Planet Fitness news, CFO Dorvin D. Lively sold 31,893 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $50.82, for a total value of $1,620,802.26. Following the sale, the chief financial officer now directly owns 31,893 shares in the company, valued at $1,620,802.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dorvin D. Lively sold 105,127 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $51.23, for a total value of $5,385,656.21. Following the completion of the sale, the chief financial officer now owns 41,874 shares in the company, valued at $2,145,205.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 500,226 shares of company stock worth $25,288,012. 19.87% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Planet Fitness during the third quarter worth about $136,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Planet Fitness during the third quarter worth about $156,000. Sawtooth Solutions LLC acquired a new stake in shares of Planet Fitness during the third quarter worth about $218,000. Verition Fund Management LLC acquired a new stake in shares of Planet Fitness during the second quarter worth about $223,000. Finally, NumerixS Investment Technologies Inc increased its position in shares of Planet Fitness by 47.4% during the second quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock worth $230,000 after purchasing an additional 1,706 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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