Oppenheimer & Co. Inc. increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,588 shares of the company’s stock after purchasing an additional 2,070 shares during the period. Oppenheimer & Co. Inc.’s holdings in Planet Fitness were worth $1,164,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Planet Fitness in the 1st quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness in the 4th quarter valued at approximately $47,000. Asset Management One Co. Ltd. lifted its stake in Planet Fitness by 17.4% in the 4th 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. Finally, First Horizon Advisors Inc. lifted its stake in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Piper Sandler boosted their target price on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Robert W. Baird boosted their target price on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $77.64.
Read Our Latest Stock Report on PLNT
Planet Fitness Stock Performance
NYSE:PLNT opened at $76.47 on Tuesday. The stock has a fifty day moving average price of $68.81 and a 200-day moving average price of $66.63. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 2.53 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $77.30.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal 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.
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