The Planet Fitness Inc. (PLNT) Rating Increased to Hold at TheStreet

The Planet Fitness Inc. (PLNT) Rating Increased to Hold at TheStreet

Planet Fitness Inc. (NYSE:PLNT) was upgraded by equities researchers at TheStreet from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other research analysts also recently weighed in on PLNT. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, June 29th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $21.00 target price (up previously from $20.00) on shares of Planet Fitness in a report on Wednesday, June 29th. Wedbush reiterated an “outperform” rating and set a $23.00 target price (up previously from $21.00) on shares of Planet Fitness in a report on Thursday, August 11th. Jefferies Group reiterated a “buy” rating and set a $26.00 target price (up previously from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Finally, Cowen and Company reiterated an “outperform” rating and set a $24.00 target price (up previously from $19.00) on shares of Planet Fitness in a report on Saturday, August 13th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.63.

Shares of Planet Fitness (NYSE:PLNT) opened at 21.16 on Thursday. The company’s 50-day moving average price is $19.94 and its 200-day moving average price is $19.05. The company’s market capitalization is $1.06 billion. Planet Fitness has a one year low of $13.23 and a one year high of $23.41.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Wednesday, October 26th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Planet Fitness had a return on equity of 785.79% and a net margin of 3.65%. The firm had revenue of $87 million for the quarter, compared to the consensus estimate of $79.32 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities research analysts predict that Planet Fitness will post $0.47 earnings per share for the current year.

In other news, Director Pierre Lecomte sold 8,000,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $19.62, for a total transaction of $156,960,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard L. Moore sold 8,200 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $21.00, for a total value of $172,200.00. Following the transaction, the insider now directly owns 8,200 shares in the company, valued at $172,200. The disclosure for this sale can be found here. 32.39% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PLNT. Emerald Mutual Fund Advisers Trust boosted its position in Planet Fitness by 4.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 574,428 shares of the company’s stock valued at $11,529,000 after buying an additional 23,780 shares during the last quarter. Henderson Group PLC bought a new position in shares of Planet Fitness during the third quarter worth approximately $4,014,000. California Public Employees Retirement System bought a new position in shares of Planet Fitness during the third quarter worth approximately $470,000. Lebenthal Lisanti Capital Growth LLC bought a new position in shares of Planet Fitness during the third quarter worth approximately $924,000. Finally, 1st Global Advisors Inc. bought a new position in shares of Planet Fitness during the third quarter worth approximately $417,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

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