Planet Fitness, Inc. (NYSE:PLNT - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $112.03 and last traded at $111.28, with a volume of 1068614 shares traded. The stock had previously closed at $110.43.
Analyst Ratings Changes
A number of analysts recently weighed in on PLNT shares. Morgan Stanley upped their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. BMO Capital Markets boosted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Macquarie reiterated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.63.
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Planet Fitness Stock Performance
The company's fifty day moving average price is $104.77 and its 200 day moving average price is $101.06. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 52.00, a price-to-earnings-growth ratio of 2.43 and a beta of 1.33.
Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS 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 during the quarter, compared to analyst estimates of $279.80 million. During the same period last year, the firm posted $0.53 earnings per share. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after acquiring an additional 2,570,826 shares during the period. Invesco Ltd. raised its holdings in shares of 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 period. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 period. Norges Bank acquired a new position in Planet Fitness in the 4th quarter valued at approximately $100,009,000. Finally, Ninety One UK Ltd increased its stake in Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after buying an additional 806,023 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.
Planet Fitness Company Profile
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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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