Planet Fitness (PLNT) Downgraded to “Hold” at Jefferies Group
A number of other analysts have also issued reports on the company. Piper Jaffray Companies reaffirmed an overweight rating on shares of Planet Fitness in a research report on Monday, December 18th. Zacks Investment Research raised Planet Fitness from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Thursday, October 26th. Bank of America lifted their target price on Planet Fitness from $32.00 to $33.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. DA Davidson started coverage on Planet Fitness in a research report on Monday, November 20th. They set a buy rating on the stock. Finally, BidaskClub lowered Planet Fitness from a buy rating to a hold rating in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $30.60.
Shares of Planet Fitness (NYSE PLNT) traded down $0.06 on Tuesday, hitting $32.90. The company’s stock had a trading volume of 1,436,437 shares, compared to its average volume of 1,600,550. The firm has a market capitalization of $3,250.00 and a PE ratio of 49.10. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $35.03. 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 issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The company had revenue of $97.50 million for the quarter, compared to analysts’ expectations of $93.55 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. analysts predict that Planet Fitness will post 0.82 EPS for the current year.
In related news, CEO Christopher Rondeau sold 1,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $27.04, for a total value of $27,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Richard L. Moore sold 9,200 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $27.02, for a total value of $248,584.00. Following the completion of the sale, the chief accounting officer now directly owns 9,200 shares of the company’s stock, valued at $248,584. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,074,427 shares of company stock valued at $32,989,022. 19.87% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in Planet Fitness by 11.7% in the third quarter. GSA Capital Partners LLP now owns 44,555 shares of the company’s stock valued at $1,202,000 after buying an additional 4,655 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in Planet Fitness in the third quarter valued at about $594,000. Argent Capital Management LLC bought a new stake in Planet Fitness in the third quarter valued at about $1,105,000. California Public Employees Retirement System increased its holdings in Planet Fitness by 10.5% in the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock valued at $626,000 after buying an additional 2,200 shares during the last quarter. Finally, Davidson Kempner Capital Management LP increased its holdings in Planet Fitness by 22.5% in the third quarter. Davidson Kempner Capital Management LP now owns 857,585 shares of the company’s stock valued at $23,138,000 after buying an additional 157,585 shares during the last quarter.
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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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