JPMorgan Chase & Co. Raises Stake in Planet Fitness, Inc. (NYSE:PLNT)

JPMorgan Chase & Co. boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,609,196 shares of the company's stock after purchasing an additional 36,803 shares during the period. JPMorgan Chase & Co. owned about 4.27% of Planet Fitness worth $356,841,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PLNT. Tidal Investments LLC grew its stake in shares of Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after buying an additional 16,503 shares during the last quarter. AMJ Financial Wealth Management acquired a new stake in Planet Fitness during the 4th quarter worth approximately $495,000. State Street Corp grew its holdings in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Nkcfo LLC acquired a new position in Planet Fitness in the 4th quarter valued at approximately $1,088,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Planet Fitness during the third quarter valued at $604,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Canaccord Genuity Group assumed coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Guggenheim reiterated a "buy" rating and set a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. Finally, Macquarie reduced their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Stock Performance

PLNT traded down $0.81 during mid-day trading on Tuesday, reaching $95.80. 1,488,875 shares of the stock were exchanged, compared to its average volume of 1,454,251. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The stock has a market capitalization of $8.11 billion, a PE ratio of 51.50, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The company has a 50 day moving average price of $100.06 and a two-hundred day moving average price of $95.02.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to analysts' expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.