Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Research analysts at William Blair lifted their FY2024 EPS estimates for Planet Fitness in a research report issued to clients and investors on Thursday, July 25th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $2.44 for the year, up from their previous estimate of $2.41. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. William Blair also issued estimates for Planet Fitness’ FY2025 earnings at $2.81 EPS.
A number of other research firms also recently weighed in on PLNT. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Robert W. Baird raised their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.64.
Read Our Latest Stock Analysis on PLNT
Planet Fitness Stock Up 0.4 %
Shares of NYSE:PLNT opened at $74.99 on Monday. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $79.09. The company’s fifty day simple moving average is $70.90 and its 200 day simple moving average is $66.84. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 43.10, a PEG ratio of 2.52 and a beta of 1.49.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis.
Institutional Trading of Planet Fitness
A number of hedge funds have recently modified their holdings of PLNT. Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $182,500,000. Greenvale Capital LLP raised its stake in Planet Fitness by 291.3% in the 4th quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares in the last quarter. Norges Bank acquired a new stake in Planet Fitness in the 4th quarter worth about $65,674,000. Steadfast Capital Management LP raised its stake in Planet Fitness by 97.7% in the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after purchasing an additional 682,863 shares in the last quarter. Finally, Junto Capital Management LP raised its stake in Planet Fitness by 255.4% in the 4th quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock worth $55,256,000 after purchasing an additional 543,942 shares in the last quarter. Institutional investors and hedge funds 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.
Featured Articles
Receive News & Ratings for Planet Fitness Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Planet Fitness and related companies with MarketBeat.com’s FREE daily email newsletter.
