Planet Fitness’ (PLNT) Buy Rating Reiterated at Cowen and Company
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a buy rating and set a $33.00 target price on shares of Planet Fitness in a research note on Friday. Imperial Capital boosted their target price on shares of Planet Fitness from $28.00 to $33.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. Bank of America Corporation boosted their target price on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of Planet Fitness from a hold rating to a buy rating and set a $29.00 target price on the stock in a research note on Thursday, October 26th. Finally, BidaskClub cut shares of Planet Fitness from a buy rating to a hold rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $29.60.
Planet Fitness (NYSE:PLNT) opened at $30.33 on Friday. Planet Fitness has a 1 year low of $18.32 and a 1 year high of $30.52. The company has a market cap of $2,980.00 and a P/E ratio of 37.65. 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 (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $93.55 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities research analysts anticipate that Planet Fitness will post 0.82 EPS for the current year.
In related news, CAO Richard L. Moore sold 1,640 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total value of $44,280.00. Following the sale, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at $44,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Rondeau sold 1,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $27.04, for a total transaction of $27,040.00. The disclosure for this sale can be found here. In the last three months, insiders sold 536,000 shares of company stock worth $15,530,907. 19.87% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in Planet Fitness by 164.0% during the third quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after acquiring an additional 3,022 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Planet Fitness during the first quarter valued at $136,000. D.A. Davidson & CO. bought a new stake in Planet Fitness during the second quarter valued at $145,000. Ameritas Investment Partners Inc. boosted its position in Planet Fitness by 234.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after acquiring an additional 5,189 shares during the last quarter. Finally, Fortaleza Asset Management Inc. boosted its position in Planet Fitness by 57.9% during the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock valued at $183,000 after acquiring an additional 2,870 shares during 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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