Toth Financial Advisory Corp Invests $333,000 in Planet Fitness, Inc. $PLNT

Key Points

• Toth Financial Advisory Corp acquired a new stake in Planet Fitness, Inc. during the 2nd quarter, purchasing 3,050 shares valued at approximately $333,000.
• Analysts maintain a generally positive outlook on Planet Fitness, with an average target price of $108.64 and multiple "buy" ratings from brokerages.
• Planet Fitness reported strong quarterly earnings with an EPS of $0.86, surpassing analyst estimates and indicating a year-over-year revenue growth of 13.3%.

Toth Financial Advisory Corp purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,050 shares of the company's stock, valued at approximately $333,000.

Several other institutional investors have also added to or reduced their stakes in PLNT. Invesco Ltd. boosted its position in Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after acquiring an additional 1,728,407 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock valued at $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd lifted its holdings in shares of Planet Fitness by 61.1% during the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock worth $205,265,000 after acquiring an additional 806,023 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Planet Fitness in the 1st quarter worth $54,384,000. Finally, Junto Capital Management LP purchased a new position in Planet Fitness in the 1st quarter worth $52,580,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Up 0.9%

NYSE:PLNT traded up $0.93 during midday trading on Monday, reaching $101.93. The stock had a trading volume of 1,035,404 shares, compared to its average volume of 1,026,772. The stock has a market cap of $8.59 billion, a P/E ratio of 45.30, a P/E/G ratio of 2.25 and a beta of 1.37. Planet Fitness, Inc. has a 12-month low of $77.77 and a 12-month high of $114.47. The firm has a fifty day simple moving average of $106.39 and a two-hundred day simple moving average of $102.53.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PLNT shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group restated a "buy" rating and issued a $126.00 target price on shares of Planet Fitness in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $108.64.

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.