Planet Fitness Inc. (NYSE:PLNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a research note issued on Wednesday. They presently have a $24.00 price objective on the stock. Guggenheim’s target price would suggest a potential upside of 12.36% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Saturday, October 29th. Jefferies Group restated a “buy” rating and set a $26.00 price objective (up from $25.00) on shares of Planet Fitness in a research report on Friday, August 12th. Roth Capital set a $23.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, October 27th. TheStreet upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Finally, Imperial Capital upped their price objective on shares of Planet Fitness from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.18.
Planet Fitness (NYSE:PLNT) opened at 21.36 on Wednesday. The company’s 50 day moving average is $21.02 and its 200-day moving average is $19.93. Planet Fitness has a 1-year low of $13.23 and a 1-year high of $25.10. The stock has a market capitalization of $1.07 billion, a PE ratio of 77.67 and a beta of 0.85.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Wednesday, October 26th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Planet Fitness had a net margin of 3.65% and a return on equity of 485.81%. The firm earned $87 million during the quarter, compared to analysts’ expectations of $79.32 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue was up 26.5% compared to the same quarter last year. Analysts forecast that Planet Fitness will post $0.47 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which will be paid on Monday, December 5th. Investors of record on Tuesday, November 22nd will be issued a $2.78 dividend. The ex-dividend date is Friday, November 18th.
In related news, CEO Christopher Rondeau sold 2,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $24.57, for a total value of $49,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard L. Moore sold 8,200 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.00, for a total transaction of $172,200.00. Following the completion of the sale, the insider now directly owns 8,200 shares of the company’s stock, valued at approximately $172,200. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Group LTD raised its stake in shares of Planet Fitness by 129.9% in the third quarter. BlackRock Group LTD now owns 5,923 shares of the company’s stock worth $119,000 after buying an additional 3,347 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock worth $146,000 after buying an additional 240 shares in the last quarter. American International Group Inc. raised its stake in shares of Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock worth $171,000 after buying an additional 288 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Planet Fitness during the third quarter worth about $182,000. Finally, Fortaleza Asset Management Inc. raised its stake in shares of Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock worth $187,000 after buying an additional 3,785 shares in the last quarter. 81.29% of the stock is owned by hedge funds and other institutional investors.
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