Planet Fitness (NYSE:PLNT) Sees Unusually-High Trading Volume

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 974,178 shares were traded during trading, a decline of 42% from the previous session's volume of 1,666,102 shares.The stock last traded at $65.44 and had previously closed at $61.85.

Analyst Ratings Changes

PLNT has been the subject of several analyst reports. Stifel Nicolaus reduced 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. Morgan Stanley reaffirmed an "overweight" rating and set a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. DA Davidson reaffirmed a "neutral" rating and issued a $62.00 target price on shares of Planet Fitness in a report on Monday, February 5th. JPMorgan Chase & Co. decreased their price objective on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, February 26th. Finally, Royal Bank of Canada lifted their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, March 5th. Six 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.21.

Planet Fitness Stock Performance

The company has a market capitalization of $5.76 billion, a P/E ratio of 41.86, a PEG ratio of 1.93 and a beta of 1.37. The company's fifty day simple moving average is $61.42 and its 200-day simple moving average is $65.21.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $285.10 million for 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 firm's quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of PLNT. Asset Management One Co. Ltd. increased its stake in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company's stock worth $73,000 after purchasing an additional 148 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company's stock valued at $1,026,000 after buying an additional 174 shares during the period. Amalgamated Bank grew its position in Planet Fitness by 0.3% in the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company's stock valued at $4,203,000 after acquiring an additional 179 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company's stock worth $494,000 after purchasing an additional 182 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in shares of Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company's stock worth $1,841,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

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.