Lazard Asset Management LLC Takes $57,000 Position in Planet Fitness, Inc. (NYSE:PLNT)

Lazard Asset Management LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 577 shares of the company’s stock, valued at approximately $57,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. R Squared Ltd acquired a new stake in shares of Planet Fitness in the fourth quarter worth $39,000. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after acquiring an additional 450 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Planet Fitness during the 4th quarter worth about $51,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLNT. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Roth Mkm reissued a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target on the stock. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets boosted their target price on Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $105.11.

Planet Fitness Stock Up 0.5%

Shares of Planet Fitness stock opened at $105.34 on Monday. Planet Fitness, Inc. has a 12-month low of $60.56 and a 12-month high of $110.00. The stock has a 50 day moving average price of $97.27 and a two-hundred day moving average price of $99.18. The stock has a market capitalization of $8.87 billion, a P/E ratio of 56.64, a PEG ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Planet Fitness’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share 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.