Planet Fitness (NYSE:PLNT) shares hit a new 52-week high and low during trading on Thursday . The company traded as low as $44.11 and last traded at $42.38, with a volume of 50240 shares changing hands. The stock had previously closed at $44.09.
A number of brokerages have recently commented on PLNT. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, April 18th. DA Davidson set a $45.00 price target on Planet Fitness and gave the company a “buy” rating in a research note on Monday, April 23rd. ValuEngine upgraded Planet Fitness from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Roth Capital set a $41.00 price target on Planet Fitness and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $39.88.
The stock has a market capitalization of $4.21 billion, a PE ratio of 51.33, a price-to-earnings-growth ratio of 1.86 and a beta of 0.51. The company has a debt-to-equity ratio of -5.68, a current ratio of 1.74 and a quick ratio of 1.70.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $121.30 million during the quarter, compared to analyst estimates of $115.75 million. Planet Fitness had a negative return on equity of 64.81% and a net margin of 9.60%. Planet Fitness’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. equities analysts predict that Planet Fitness will post 1.18 EPS for the current year.
Planet Fitness declared that its Board of Directors has initiated a stock buyback program on Thursday, February 22nd that authorizes the company to buyback $80.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, CEO Christopher Rondeau sold 100,000 shares of Planet Fitness stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $43.38, for a total value of $4,338,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.87% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of PLNT. Bank of Montreal Can bought a new position in shares of Planet Fitness in the 4th quarter worth about $104,000. Schwab Charles Investment Management Inc. raised its position in shares of Planet Fitness by 2.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 407,162 shares of the company’s stock worth $14,101,000 after acquiring an additional 8,608 shares in the last quarter. Strs Ohio raised its position in shares of Planet Fitness by 69.7% in the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock worth $193,000 after acquiring an additional 2,300 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Planet Fitness in the 4th quarter worth about $114,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Planet Fitness by 81.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after acquiring an additional 2,244 shares in the last quarter. 95.68% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.
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