Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Equities researchers at DA Davidson issued their Q1 2024 EPS estimates for shares of Planet Fitness in a note issued to investors on Friday, February 23rd. DA Davidson analyst L. Weiser forecasts that the company will earn $0.48 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $62.00 target price on the stock. The consensus estimate for Planet Fitness’ current full-year earnings is $2.48 per share. DA Davidson also issued estimates for Planet Fitness’ FY2024 earnings at $2.49 EPS and FY2025 earnings at $2.80 EPS.
A number of other analysts also recently issued reports on PLNT. Piper Sandler raised their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Morgan Stanley dropped their price objective on shares of Planet Fitness from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Stifel Nicolaus dropped their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $70.69.
Read Our Latest Stock Analysis on PLNT
Planet Fitness Stock Up 2.1 %
Shares of NYSE PLNT opened at $63.71 on Monday. The firm’s 50-day moving average price is $70.73 and its 200-day moving average price is $62.71. The company has a market cap of $5.62 billion, a PE ratio of 39.33, a PEG ratio of 1.25 and a beta of 1.44. Planet Fitness has a 52-week low of $44.13 and a 52-week high of $84.48.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. During the same period in the prior year, the firm posted $0.53 EPS. Planet Fitness’s revenue for the quarter was up 1.4% on a year-over-year basis.
Insider Buying and Selling at Planet Fitness
In other news, CEO Craig R. Benson purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was acquired at an average cost of $68.15 per share, with a total value of $681,500.00. Following the completion of the transaction, the chief executive officer now owns 35,000 shares in the company, valued at approximately $2,385,250. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Craig R. Benson acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $68.15 per share, for a total transaction of $681,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,000 shares in the company, valued at approximately $2,385,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher Rondeau sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $66.55, for a total transaction of $66,550,000.00. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Planet Fitness by 52.2% in the 2nd quarter. BlackRock Inc. now owns 12,057,346 shares of the company’s stock valued at $813,147,000 after buying an additional 4,133,786 shares during the period. Vanguard Group Inc. lifted its stake in Planet Fitness by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock worth $589,606,000 after purchasing an additional 196,809 shares during the last quarter. Cadian Capital Management LP lifted its stake in Planet Fitness by 9.6% during the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock worth $323,417,000 after purchasing an additional 386,861 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Planet Fitness by 60.7% during the second quarter. Champlain Investment Partners LLC now owns 3,103,159 shares of the company’s stock worth $209,277,000 after purchasing an additional 1,172,525 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Planet Fitness by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company’s stock worth $130,812,000 after purchasing an additional 12,139 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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