Planet Fitness, Inc. (PLNT) Downgraded by BidaskClub to “Hold”
Planet Fitness, Inc. (NYSE:PLNT) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Other equities analysts have also recently issued reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Planet Fitness in a report on Thursday, September 14th. Roth Capital lifted their price objective on Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, July 12th. Robert W. Baird reaffirmed an “outperform” rating and set a $31.00 price objective (up from $28.00) on shares of Planet Fitness in a report on Wednesday. Finally, Imperial Capital lifted their price objective on Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.67.
Shares of Planet Fitness (PLNT) opened at 26.27 on Thursday. The company’s 50 day moving average price is $26.37 and its 200 day moving average price is $26.37. Planet Fitness has a 12 month low of $19.17 and a 12 month high of $27.22. The stock has a market capitalization of $2.25 billion, a PE ratio of 45.29 and a beta of 0.86.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. Planet Fitness’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. Equities analysts anticipate that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneva Advisors LLC raised its holdings in shares of Planet Fitness by 4.1% in the second quarter. Geneva Advisors LLC now owns 40,691 shares of the company’s stock worth $950,000 after acquiring an additional 1,600 shares during the last quarter. Wolverine Trading LLC raised its holdings in shares of Planet Fitness by 24.5% in the second quarter. Wolverine Trading LLC now owns 11,704 shares of the company’s stock worth $274,000 after acquiring an additional 2,304 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Planet Fitness by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock worth $2,089,000 after acquiring an additional 2,369 shares during the last quarter. AHL Partners LLP raised its holdings in shares of Planet Fitness by 11.0% in the second quarter. AHL Partners LLP now owns 27,748 shares of the company’s stock worth $648,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Fortaleza Asset Management Inc. raised its holdings in shares of Planet Fitness by 57.9% in the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after acquiring an additional 2,870 shares during 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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