Planet Fitness Inc (NYSE:PLNT) – Piper Jaffray Companies boosted their Q4 2018 EPS estimates for Planet Fitness in a report released on Tuesday, November 6th. Piper Jaffray Companies analyst P. Keith now anticipates that the company will post earnings per share of $0.31 for the quarter, up from their prior forecast of $0.30. Piper Jaffray Companies currently has a “Buy” rating and a $60.00 price target on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ Q1 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.53 EPS.
Several other equities research analysts have also recently commented on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. DA Davidson boosted their price target on shares of Planet Fitness to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. TheStreet raised shares of Planet Fitness from a “c-” rating to a “b” rating in a research report on Monday, August 6th. Robert W. Baird reissued a “buy” rating and set a $56.00 price target (up from $50.00) on shares of Planet Fitness in a research report on Friday, August 10th. Finally, Imperial Capital boosted their price target on shares of Planet Fitness from $40.00 to $45.00 and gave the stock an “inline” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Planet Fitness currently has a consensus rating of “Buy” and an average target price of $51.54.
Shares of NYSE:PLNT opened at $54.99 on Friday. Planet Fitness has a one year low of $28.98 and a one year high of $57.66. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 65.46, a price-to-earnings-growth ratio of 2.17 and a beta of 0.75.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Planet Fitness had a net margin of 11.22% and a negative return on equity of 94.59%. The firm had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $126.10 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 40.2% on a year-over-year basis.
In other news, CFO Dorvin D. Lively sold 105,127 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $51.23, for a total transaction of $5,385,656.21. Following the transaction, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 1,792 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $50.60, for a total transaction of $90,675.20. The disclosure for this sale can be found here. Insiders have sold a total of 500,226 shares of company stock worth $25,288,012 over the last 90 days. 19.87% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Planet Fitness by 210.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 20,799 shares of the company’s stock worth $914,000 after purchasing an additional 14,108 shares during the last quarter. Kendall Capital Management acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $249,000. Raymond James & Associates increased its stake in shares of Planet Fitness by 7.8% during the 2nd quarter. Raymond James & Associates now owns 73,865 shares of the company’s stock worth $3,246,000 after purchasing an additional 5,351 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Planet Fitness during the 2nd quarter worth about $15,098,000. Finally, Swiss National Bank increased its stake in shares of Planet Fitness by 1.7% during the 2nd quarter. Swiss National Bank now owns 151,785 shares of the company’s stock worth $6,669,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.
About Planet Fitness
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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