Teacher Retirement System of Texas Grows Stake in Planet Fitness, Inc. (NYSE:PLNT)

Teacher Retirement System of Texas boosted its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 189.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,282 shares of the company's stock after acquiring an additional 21,772 shares during the quarter. Teacher Retirement System of Texas' holdings in Planet Fitness were worth $3,291,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PLNT. State Street Corp raised its position in Planet Fitness by 1.5% during the third 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 period. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $130,376,000. FMR LLC raised its position in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after purchasing an additional 691,761 shares during the last quarter. WCM Investment Management LLC purchased a new position in Planet Fitness in the 4th quarter valued at about $22,289,000. Finally, Artemis Investment Management LLP acquired a new stake in Planet Fitness in the 4th quarter worth about $18,767,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PLNT shares. JPMorgan Chase & Co. increased their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Piper Sandler increased their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Roth Mkm reaffirmed a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Finally, Stifel Nicolaus reduced their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $100.17.

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Planet Fitness Trading Down 3.0 %

NYSE:PLNT traded down $3.02 during midday trading on Friday, reaching $96.18. The company had a trading volume of 957,066 shares, compared to its average volume of 1,458,929. Planet Fitness, Inc. has a 12-month low of $57.64 and a 12-month high of $110.00. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54. The stock's fifty day simple moving average is $100.46 and its 200-day simple moving average is $94.73.

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

About Planet Fitness

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.