Planet Fitness Sees Unusually High Options Volume (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) saw some unusual options trading activity on Monday. Stock traders bought 7,472 call options on the company. This represents an increase of 106% compared to the typical volume of 3,631 call options.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLNT shares. Stifel Nicolaus reduced their price target on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Piper Sandler raised their price target on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Royal Bank of Canada boosted their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Institutional Investors Weigh In On Planet Fitness

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Planet Fitness in the 4th quarter worth approximately $47,000. CWM LLC grew its position in shares of Planet Fitness by 109.5% in the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock worth $72,000 after buying an additional 763 shares during the last quarter. Covestor Ltd increased its stake in shares of Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 238 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Planet Fitness by 17.4% during 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 in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 0.3 %

Shares of NYSE:PLNT opened at $60.08 on Tuesday. The stock has a market capitalization of $5.30 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.39. The stock’s 50-day moving average price is $61.89 and its 200-day moving average price is $64.95. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $84.48.

Planet Fitness (NYSE:PLNT) last announced 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 business had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, research analysts predict that Planet Fitness will post 2.48 EPS for the current year.

Planet Fitness Company 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.