Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Stock analysts at DA Davidson issued their Q3 2024 EPS estimates for Planet Fitness in a report released on Wednesday, August 7th. DA Davidson analyst L. Weiser anticipates that the company will earn $0.61 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $62.00 target price on the stock. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. DA Davidson also issued estimates for Planet Fitness’ FY2025 earnings at $2.90 EPS.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $70.00 in a report on Friday, May 10th. Piper Sandler raised their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up from $80.00) on shares of Planet Fitness in a research note on Wednesday. Royal Bank of Canada increased their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Raymond James raised their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.87.
Check Out Our Latest Report on PLNT
Planet Fitness Stock Down 0.9 %
Planet Fitness stock opened at $75.75 on Thursday. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $79.10. The firm has a 50 day moving average price of $72.57 and a 200-day moving average price of $66.88. The company has a market capitalization of $6.68 billion, a P/E ratio of 43.53, a P/E/G ratio of 2.44 and a beta of 1.49.
Hedge Funds Weigh In On Planet Fitness
Several institutional investors and hedge funds have recently made changes to their positions in PLNT. Dimensional Fund Advisors LP grew its holdings in Planet Fitness by 17.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after acquiring an additional 133,541 shares during the last quarter. Broad Bay Capital Management LP grew its holdings in Planet Fitness by 15.4% in the 4th quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock worth $89,279,000 after acquiring an additional 163,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after acquiring an additional 97,823 shares during the last quarter. Bessemer Group Inc. grew its holdings in Planet Fitness by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after acquiring an additional 45,623 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Planet Fitness in the 1st quarter worth $1,786,000. Institutional investors own 95.53% of the company’s stock.
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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