Shares of Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) fell 3.2% on Tuesday . The company traded as low as $103.00 and last traded at $101.99. 344,408 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,401,293 shares. The stock had previously closed at $105.40.
Wall Street Analysts Forecast Growth
PLNT has been the topic of several analyst reports. Macquarie reaffirmed a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. BMO Capital Markets raised their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Morgan Stanley lifted their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Roth Mkm restated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.11.
Check Out Our Latest Research Report on Planet Fitness
Planet Fitness Stock Down 0.2%
The stock has a 50 day simple moving average of $97.55 and a 200 day simple moving average of $99.43. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 2.45 and a beta of 1.33.
Planet Fitness (NYSE:PLNT - Get Free Report) last announced its 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). The firm had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.
Institutional Investors Weigh In On Planet Fitness
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group increased its holdings in shares of Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after buying an additional 118 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after acquiring an additional 242 shares in the last quarter. R Squared Ltd bought a new stake in Planet Fitness in the 4th quarter valued at $39,000. CoreCap Advisors LLC lifted its position in Planet Fitness by 1,250.0% during the 4th 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. Finally, Farther Finance Advisors LLC raised its holdings in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.
About Planet Fitness
(
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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