Raymond James Financial Inc. Acquires 3,253 Shares of Planet Fitness, Inc. $PLNT

Raymond James Financial Inc. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,476 shares of the company's stock after purchasing an additional 3,253 shares during the period. Raymond James Financial Inc.'s holdings in Planet Fitness were worth $3,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after acquiring an additional 242 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after buying an additional 387 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Planet Fitness during the fourth quarter worth $57,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Planet Fitness during the first quarter worth $65,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Macquarie reiterated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.64.

Planet Fitness Price Performance

NYSE PLNT traded down $1.23 on Wednesday, reaching $101.35. The stock had a trading volume of 985,662 shares, compared to its average volume of 1,469,110. The company has a market cap of $8.54 billion, a P/E ratio of 45.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47. The firm has a fifty day moving average of $107.61 and a two-hundred day moving average of $102.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.Planet Fitness's revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Company 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.