Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $110.00 and last traded at $109.57, with a volume of 293434 shares changing hands. The stock had previously closed at $107.51.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on PLNT shares. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Robert W. Baird upped their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Morgan Stanley upped their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Finally, Macquarie reiterated a "neutral" rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.69.
Check Out Our Latest Research Report on PLNT
Planet Fitness Price Performance
The stock has a market capitalization of $9.11 billion, a P/E ratio of 57.88, a P/E/G ratio of 2.67 and a beta of 1.52. The firm's 50 day moving average price is $101.84 and its 200 day moving average price is $88.99.
Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.
Insider Activity
In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.94% of the company's stock.
Hedge Funds Weigh In On Planet Fitness
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after buying an additional 37,236 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of Planet Fitness during the fourth quarter valued at approximately $130,376,000. FMR LLC increased its stake in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after purchasing an additional 691,761 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at approximately $22,289,000. Finally, Artemis Investment Management LLP bought a new position in shares of Planet Fitness during the fourth quarter valued at approximately $18,767,000. 95.53% of the stock is owned by institutional investors.
About Planet Fitness
(
Get Free Report)
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.
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