Planet Fitness, Inc. (PLNT) Given “Buy” Rating at Jefferies Group LLC
A number of other brokerages have also recently weighed in on PLNT. Bank of America Corporation lifted their price target on shares of Planet Fitness from $32.00 to $33.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Imperial Capital lifted their price target on shares of Planet Fitness from $28.00 to $33.00 and gave the company an outperform rating in a research report on Thursday, November 9th. Robert W. Baird reiterated an outperform rating and set a $31.00 price target (up from $28.00) on shares of Planet Fitness in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Planet Fitness from a hold rating to a buy rating in a research report on Friday, September 22nd. Finally, Zacks Investment Research upgraded shares of Planet Fitness from a hold rating to a buy rating and set a $29.00 price target for the company in a research report on Wednesday, October 11th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $29.60.
Planet Fitness (PLNT) opened at $30.33 on Friday. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $30.52. The company has a market cap of $2,962.36, a PE ratio of 37.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Planet Fitness’s quarterly revenue was up 12.1% compared to the same quarter last year. equities analysts predict that Planet Fitness will post 0.82 EPS for the current fiscal year.
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In other Planet Fitness news, CAO Richard L. Moore sold 364,160 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $29.52, for a total transaction of $10,750,003.20. Following the completion of the transaction, the chief accounting officer now owns 204,204 shares in the company, valued at approximately $6,028,102.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard L. Moore sold 1,640 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the transaction, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at approximately $44,280. The disclosure for this sale can be found here. Insiders sold 536,000 shares of company stock valued at $15,530,907 in the last 90 days. Company insiders own 19.87% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its holdings in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock worth $131,000 after acquiring an additional 3,022 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Planet Fitness during the 2nd quarter worth approximately $145,000. Oppenheimer Asset Management Inc. acquired a new position in Planet Fitness during the 1st quarter worth approximately $136,000. Ameritas Investment Partners Inc. grew its holdings in Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after acquiring an additional 5,189 shares in the last quarter. Finally, Fortaleza Asset Management Inc. grew its holdings in Planet Fitness by 57.9% during the 2nd 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 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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