Planet Fitness, Inc. $PLNT Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,546 shares of the company’s stock after acquiring an additional 12,450 shares during the quarter. Royal Bank of Canada owned 0.19% of Planet Fitness worth $15,800,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group grew its position in shares of Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after acquiring an additional 118 shares during the period. First Horizon Advisors Inc. boosted its position in Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock worth $36,000 after acquiring an additional 242 shares during the last quarter. CoreCap Advisors LLC boosted its position in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after acquiring an additional 450 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Planet Fitness in the 4th quarter valued at about $57,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Down 1.6%

Shares of PLNT opened at $102.55 on Wednesday. The company has a 50-day simple moving average of $107.61 and a 200-day simple moving average of $102.03. The company has a market capitalization of $8.64 billion, a PE ratio of 45.58, a P/E/G ratio of 2.32 and a beta of 1.37. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on PLNT. Macquarie reiterated a “neutral” rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.64.

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.