Planet Fitness (NYSE:PLNT) shares reached a new 52-week high and low during trading on Thursday . The stock traded as low as $44.97 and last traded at $44.69, with a volume of 15829 shares. The stock had previously closed at $44.31.
Several research analysts have recently commented on PLNT shares. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. DA Davidson reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, May 9th. Roth Capital set a $36.00 price target on Planet Fitness and gave the stock a “buy” rating in a report on Tuesday, February 20th. Cowen set a $41.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $35.00 price objective on shares of Planet Fitness in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Planet Fitness currently has an average rating of “Buy” and an average price target of $41.00.
The firm has a market cap of $4.27 billion, a PE ratio of 53.65, a PEG ratio of 1.88 and a beta of 0.51. The company has a current ratio of 1.74, a quick ratio of 1.70 and a debt-to-equity ratio of -5.68.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $121.30 million for the quarter, compared to analyst estimates of $115.75 million. Planet Fitness had a net margin of 9.60% and a negative return on equity of 64.81%. Planet Fitness’s revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. analysts forecast that Planet Fitness will post 1.18 EPS for the current year.
Planet Fitness announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 22nd that authorizes the company to repurchase $80.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Christopher Rondeau sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $43.38, for a total value of $4,338,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.38% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of PLNT. Carillon Tower Advisers Inc. purchased a new stake in Planet Fitness during the fourth quarter worth about $81,176,000. Waratah Capital Advisors Ltd. purchased a new stake in Planet Fitness during the first quarter worth about $45,913,000. Scopus Asset Management L.P. purchased a new stake in Planet Fitness during the first quarter worth about $33,615,000. Bamco Inc. NY purchased a new stake in Planet Fitness during the first quarter worth about $22,662,000. Finally, Investec Asset Management LTD increased its stake in Planet Fitness by 13.2% during the fourth quarter. Investec Asset Management LTD now owns 4,838,749 shares of the company’s stock worth $167,566,000 after purchasing an additional 564,783 shares during the period. Institutional investors own 94.77% of the company’s stock.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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