Planet Fitness Inc (NYSE:PLNT) – Research analysts at Imperial Capital increased their Q1 2019 EPS estimates for shares of Planet Fitness in a report issued on Wednesday, February 27th, Zacks Investment Research reports. Imperial Capital analyst G. Kelly now expects that the company will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.27. Imperial Capital also issued estimates for Planet Fitness’ FY2019 earnings at $1.53 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, January 1st. ValuEngine cut Planet Fitness from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Bank of America reaffirmed a “buy” rating and issued a $72.00 price target (up from $68.00) on shares of Planet Fitness in a research note on Thursday, February 28th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the stock from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Finally, DA Davidson upped their price target on Planet Fitness to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.36.
Shares of PLNT stock opened at $65.73 on Monday. Planet Fitness has a fifty-two week low of $35.92 and a fifty-two week high of $65.74. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 53.88, a P/E/G ratio of 2.08 and a beta of 0.73.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The firm had revenue of $174.40 million during the quarter, compared to the consensus estimate of $173.76 million. During the same quarter last year, the company posted $0.24 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. lifted its holdings in Planet Fitness by 2.2% in the fourth quarter. Prudential Financial Inc. now owns 9,627 shares of the company’s stock valued at $516,000 after acquiring an additional 203 shares during the period. Bessemer Group Inc. increased its position in Planet Fitness by 30.6% in the fourth quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock worth $60,000 after buying an additional 264 shares in the last quarter. ETRADE Capital Management LLC increased its position in Planet Fitness by 4.0% in the fourth quarter. ETRADE Capital Management LLC now owns 6,864 shares of the company’s stock worth $368,000 after buying an additional 267 shares in the last quarter. National Asset Management Inc. increased its position in Planet Fitness by 2.5% in the fourth quarter. National Asset Management Inc. now owns 11,574 shares of the company’s stock worth $621,000 after buying an additional 278 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Planet Fitness by 99.3% in the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after buying an additional 284 shares in the last quarter. 90.59% of the stock is currently owned by institutional investors.
In other news, CEO Christopher Rondeau sold 6,000 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $60.53, for a total transaction of $363,180.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Berg sold 6,291 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the transaction, the director now directly owns 6,615 shares in the company, valued at $408,343.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,291 shares of company stock worth $10,289,238. Corporate insiders own 16.38% of the company’s stock.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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