Shares of Planet Fitness, Inc. (NYSE:PLNT – Get Free Report) shot up 3.9% during mid-day trading on Monday . The stock traded as high as $63.66 and last traded at $63.66. 482,196 shares were traded during trading, a decline of 70% from the average session volume of 1,610,696 shares. The stock had previously closed at $61.29.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on PLNT. Stifel Nicolaus cut their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 23rd. DA Davidson restated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research note on Monday, February 5th. Piper Sandler boosted their price objective on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.00.
Planet Fitness Stock Performance
The firm has a market capitalization of $5.52 billion, a P/E ratio of 38.63, a price-to-earnings-growth ratio of 1.23 and a beta of 1.39. The business has a fifty day moving average of $63.70 and a 200-day moving average of $64.06.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Planet Fitness
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $25,000. Allworth Financial LP lifted its holdings in shares of Planet Fitness by 247.6% in the fourth 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. International Assets Investment Management LLC purchased a new stake in shares of Planet Fitness in the third quarter valued at $27,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Planet Fitness by 93.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after purchasing an additional 220 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 95.53% of the company’s stock.
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.