Zurcher Kantonalbank Zurich Cantonalbank Sells 2,292 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 12.9% in the fourth quarter, HoldingsChannel reports. The firm owned 15,531 shares of the company’s stock after selling 2,292 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Planet Fitness were worth $1,134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Planet Fitness in the fourth quarter valued at about $47,000. Asset Management One Co. Ltd. boosted its stake in Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the last quarter. CWM LLC boosted its stake in Planet Fitness by 109.5% in the third quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 763 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Planet Fitness by 19.5% in the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 238 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Morgan Stanley restated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Stifel Nicolaus dropped their price target on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Royal Bank of Canada upped their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $71.00.

Planet Fitness Price Performance

NYSE PLNT opened at $60.27 on Friday. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.48. The stock has a market capitalization of $5.31 billion, a PE ratio of 37.20, a P/E/G ratio of 1.95 and a beta of 1.39. The company’s 50 day simple moving average is $62.02 and its two-hundred day simple moving average is $64.69.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Planet Fitness Profile

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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.