Planet Fitness, Inc. (NYSE:PLNT – Get Rating) gapped down before the market opened on Friday after BNP Paribas downgraded the stock from a neutral rating to an underperform rating. The stock had previously closed at $67.86, but opened at $65.10. BNP Paribas now has a $57.00 price target on the stock. Planet Fitness shares last traded at $65.36, with a volume of 306,150 shares.
PLNT has been the topic of a number of other reports. Morgan Stanley boosted their target price on Planet Fitness from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 27th. VNET Group reaffirmed a “maintains” rating on shares of Planet Fitness in a research report on Friday, May 5th. Raymond James increased their price target on Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 24th. StockNews.com assumed coverage on Planet Fitness in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Piper Sandler cut their price target on Planet Fitness from $96.00 to $88.00 in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $84.33.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Psagot Value Holdings Ltd. Israel grew its holdings in Planet Fitness by 25.0% during the first quarter. Psagot Value Holdings Ltd. Israel now owns 5,000 shares of the company’s stock worth $380,000 after purchasing an additional 1,000 shares during the period. Level Four Advisory Services LLC grew its holdings in Planet Fitness by 3.6% during the first quarter. Level Four Advisory Services LLC now owns 5,371 shares of the company’s stock worth $417,000 after purchasing an additional 185 shares during the period. Prelude Capital Management LLC bought a new position in Planet Fitness during the first quarter worth about $378,000. Golden State Equity Partners bought a new position in Planet Fitness during the first quarter worth about $233,000. Finally, Putnam Investments LLC grew its holdings in Planet Fitness by 1.3% during the first quarter. Putnam Investments LLC now owns 217,395 shares of the company’s stock worth $16,885,000 after purchasing an additional 2,879 shares during the period. Institutional investors and hedge funds own 95.82% of the company’s stock.
Planet Fitness Stock Down 3.7 %
The firm has a market cap of $5.83 billion, a P/E ratio of 54.29, a PEG ratio of 1.29 and a beta of 1.31. The business has a fifty day moving average of $71.30 and a 200 day moving average of $76.32.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Planet Fitness had a negative return on equity of 73.81% and a net margin of 10.86%. The firm had revenue of $222.23 million for the quarter, compared to the consensus estimate of $238.30 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 19.0% on a year-over-year basis. Research analysts expect that Planet Fitness, Inc. will post 2.16 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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.