Principal Securities Inc. purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,522 shares of the company’s stock, valued at approximately $184,000.
Several other large investors have also recently modified their holdings of PLNT. Allworth Financial LP increased its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $47,000. Covestor Ltd raised its holdings in Planet Fitness by 19.5% in the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Planet Fitness Trading Down 3.3 %
Shares of NYSE:PLNT opened at $63.27 on Friday. The stock has a 50 day moving average of $61.63 and a 200 day moving average of $65.74. The company has a market cap of $5.58 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Equities research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PLNT. DA Davidson restated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Thursday, May 9th. Royal Bank of Canada lowered their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Raymond James increased their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.86.
Get Our Latest Analysis on PLNT
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.
Further Reading
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