Planet Fitness Inc (NYSE:PLNT) – Piper Jaffray Companies decreased their Q4 2018 earnings estimates for shares of Planet Fitness in a report issued on Monday, October 29th, Zacks Investment Research reports. Piper Jaffray Companies analyst P. Keith now forecasts that the company will earn $0.30 per share for the quarter, down from their prior estimate of $0.32. Piper Jaffray Companies currently has a “Buy” rating and a $60.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ Q4 2019 earnings at $0.42 EPS.
A number of other research analysts also recently issued reports on PLNT. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Cowen restated a “buy” rating and set a $58.00 price target on shares of Planet Fitness in a report on Sunday, August 12th. Imperial Capital boosted their price target on Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a report on Friday, November 9th. Bank of America boosted their price target on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, November 7th. Finally, Robert W. Baird restated a “buy” rating and set a $56.00 price target (up previously from $50.00) on shares of Planet Fitness in a report on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Planet Fitness has an average rating of “Buy” and an average target price of $52.64.
Shares of NYSE PLNT traded up $1.44 during midday trading on Wednesday, reaching $52.35. The company had a trading volume of 755,437 shares, compared to its average volume of 1,358,463. Planet Fitness has a one year low of $28.98 and a one year high of $57.66. The firm has a market cap of $4.97 billion, a PE ratio of 62.32, a price-to-earnings-growth ratio of 2.16 and a beta of 0.75.
Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The company had revenue of $136.66 million during the quarter, compared to analyst estimates of $126.10 million. During the same quarter in the previous year, the company posted $0.19 EPS. Planet Fitness’s revenue for the quarter was up 40.2% on a year-over-year basis.
In other Planet Fitness news, CEO Christopher Rondeau sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $50.21, for a total transaction of $4,016,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dorvin D. Lively sold 105,127 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $51.23, for a total value of $5,385,656.21. Following the transaction, the chief financial officer now owns 41,874 shares in the company, valued at approximately $2,145,205.02. The disclosure for this sale can be found here. Insiders have sold a total of 378,012 shares of company stock worth $19,156,158 in the last quarter. Company insiders own 19.87% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in shares of Planet Fitness by 75.6% in the 3rd quarter. Morgan Stanley now owns 563,195 shares of the company’s stock worth $30,429,000 after buying an additional 242,532 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Planet Fitness by 8.3% in the 3rd quarter. Legal & General Group Plc now owns 31,861 shares of the company’s stock worth $1,722,000 after buying an additional 2,454 shares during the last quarter. Kepos Capital LP purchased a new stake in shares of Planet Fitness in the 3rd quarter worth approximately $7,051,000. Rehmann Capital Advisory Group grew its stake in shares of Planet Fitness by 5,168.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 131,076 shares of the company’s stock worth $2,426,000 after buying an additional 128,588 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Planet Fitness in the 3rd quarter worth approximately $575,000. Institutional investors own 92.97% of the company’s stock.
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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