Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $110.95 and last traded at $108.69, with a volume of 176607 shares. The stock had previously closed at $108.82.
Wall Street Analyst Weigh In
PLNT has been the subject of a number of research reports. Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Macquarie reissued a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, BMO Capital Markets upped their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.63.
View Our Latest Research Report on PLNT
Planet Fitness Trading Up 0.5%
The company has a 50 day moving average price of $101.27 and a 200 day moving average price of $100.21. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 51.13, a PEG ratio of 2.34 and a beta of 1.33.
Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. During the same quarter last year, the firm earned $0.53 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Planet Fitness by 6.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after purchasing an additional 496,047 shares during the period. Vanguard Group Inc. grew its holdings in Planet Fitness by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after acquiring an additional 62,716 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after acquiring an additional 36,803 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock valued at $317,810,000 after acquiring an additional 1,268,262 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Planet Fitness by 358.0% in the 1st 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 in the last quarter. 95.53% of the stock is currently owned by institutional investors.
Planet Fitness Company Profile
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Get Free Report)
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.
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