Planet Fitness (PLNT) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Planet Fitness (NYSE: PLNT) in the last few weeks:

  • 5/13/2022 – Planet Fitness had its price target lowered by analysts at DA Davidson from $110.00 to $90.00.
  • 5/11/2022 – Planet Fitness was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $90.00 price target on the stock.
  • 5/11/2022 – Planet Fitness had its price target lowered by analysts at BMO Capital Markets from $96.00 to $88.00.
  • 5/11/2022 – Planet Fitness had its price target lowered by analysts at Robert W. Baird from $108.00 to $92.00.
  • 5/11/2022 – Planet Fitness had its price target lowered by analysts at Piper Sandler from $87.00 to $72.00.
  • 3/31/2022 – Planet Fitness is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Shares of PLNT stock traded down $2.63 during trading hours on Friday, hitting $65.19. 1,405,084 shares of the company were exchanged, compared to its average volume of 1,007,844. The company has a 50 day simple moving average of $80.82 and a two-hundred day simple moving average of $85.34. The firm has a market cap of $5.93 billion, a P/E ratio of 101.86, a P/E/G ratio of 2.25 and a beta of 1.16. Planet Fitness, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $99.60.

Planet Fitness (NYSE:PLNTGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The company had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $190.44 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue was up 66.8% on a year-over-year basis. On average, analysts anticipate that Planet Fitness, Inc. will post 1.54 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Soroban Capital Partners LP grew its holdings in Planet Fitness by 938.3% during the third quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock worth $251,049,000 after buying an additional 2,888,217 shares in the last quarter. BlackRock Inc. grew its stake in shares of Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after acquiring an additional 1,852,867 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Planet Fitness by 225.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock worth $144,765,000 after acquiring an additional 1,108,100 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Planet Fitness by 79.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Planet Fitness during the fourth quarter valued at about $73,431,000. 93.87% of the stock is owned by institutional investors.

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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