Natixis Advisors L.P. acquired a new position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,556 shares of the company’s stock, valued at approximately $975,000.
A number of other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of Planet Fitness by 2.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 268,139 shares of the company’s stock worth $20,826,000 after buying an additional 6,410 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Planet Fitness by 5.6% in the 1st quarter. Rhumbline Advisers now owns 98,682 shares of the company’s stock worth $7,665,000 after buying an additional 5,224 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Planet Fitness in the 1st quarter worth approximately $246,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Planet Fitness by 24.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,343 shares of the company’s stock worth $1,502,000 after buying an additional 3,815 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Planet Fitness by 5.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $1,476,000 after buying an additional 980 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Stock Down 1.1 %
NYSE:PLNT opened at $60.99 on Wednesday. Planet Fitness, Inc. has a 12-month low of $54.15 and a 12-month high of $85.90. The firm has a market capitalization of $5.38 billion, a P/E ratio of 41.49, a P/E/G ratio of 0.95 and a beta of 1.30. The stock’s fifty day simple moving average is $64.36 and its 200-day simple moving average is $70.53.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. Planet Fitness had a negative return on equity of 86.09% and a net margin of 12.03%. The business had revenue of $286.50 million for the quarter, compared to analyst estimates of $251.99 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was up 27.7% on a year-over-year basis. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on PLNT. Royal Bank of Canada dropped their price target on Planet Fitness from $86.00 to $78.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Macquarie dropped their price target on Planet Fitness from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Robert W. Baird dropped their price target on Planet Fitness from $95.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, August 4th. BNP Paribas cut Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target for the company. in a report on Friday, June 23rd. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $78.00 to $82.00 in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.
Get Our Latest Research Report on PLNT
About Planet Fitness
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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