Planet Fitness, Inc. (PLNT) Price Target Raised to $33.00 at Imperial Capital
Planet Fitness, Inc. (NYSE:PLNT) had its price objective lifted by Imperial Capital from $28.00 to $33.00 in a research report released on Thursday. They currently have an outperform rating on the stock.
PLNT has been the subject of several other reports. Zacks Investment Research upgraded Planet Fitness from a hold rating to a buy rating and set a $29.00 price objective for the company in a research report on Wednesday, October 11th. BidaskClub upgraded Planet Fitness from a sell rating to a hold rating in a research note on Saturday, August 5th. Jefferies Group LLC restated a buy rating and issued a $29.00 target price on shares of Planet Fitness in a research note on Thursday, October 19th. Finally, Robert W. Baird restated an outperform rating and issued a $31.00 target price (up previously from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $29.40.
Shares of Planet Fitness (NYSE:PLNT) traded up $0.82 on Thursday, hitting $30.12. The company had a trading volume of 1,449,281 shares, compared to its average volume of 1,234,699. The company has a debt-to-equity ratio of -4.46, a current ratio of 1.29 and a quick ratio of 1.28. Planet Fitness has a 1-year low of $18.32 and a 1-year high of $30.22. The firm has a market cap of $2,960.00 and a price-to-earnings ratio of 37.54.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 42.09% and a net margin of 11.44%. The business had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. During the same period in the previous year, the firm earned $0.16 EPS. Planet Fitness’s quarterly revenue was up 12.1% compared to the same quarter last year. research analysts anticipate that Planet Fitness will post 0.81 EPS for the current fiscal year.
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In other news, CEO Christopher Rondeau sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.04, for a total transaction of $27,040.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Richard L. Moore sold 9,200 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.02, for a total value of $248,584.00. Following the sale, the chief accounting officer now owns 9,200 shares in the company, valued at approximately $248,584. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,840 shares of company stock worth $2,433,704. Company insiders own 19.87% of the company’s stock.
Several institutional investors have recently made changes to their positions in PLNT. BlackRock Inc. raised its stake in shares of Planet Fitness by 108.4% during the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares in the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $41,580,000. Junto Capital Management LP bought a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $37,227,000. DSAM Partners London Ltd bought a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $36,383,000. Finally, Vanguard Group Inc. raised its stake in shares of Planet Fitness by 30.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares in the last quarter.
About Planet Fitness
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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