Planet Fitness (PLNT) Sets New 52-Week High at $72.04

Planet Fitness Inc (NYSE:PLNT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $72.04 and last traded at $71.85, with a volume of 17020 shares. The stock had previously closed at $71.22.

Several brokerages have recently issued reports on PLNT. Robert W. Baird raised their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, April 2nd. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Roth Capital raised their price target on shares of Planet Fitness from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the stock from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Planet Fitness currently has a consensus rating of “Buy” and an average price target of $59.71.

The company has a market capitalization of $6.63 billion, a PE ratio of 58.61, a P/E/G ratio of 2.49 and a beta of 0.74.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $174.40 million during the quarter, compared to the consensus estimate of $173.76 million. Planet Fitness had a net margin of 15.36% and a negative return on equity of 67.65%. Planet Fitness’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. On average, research analysts predict that Planet Fitness Inc will post 1.54 earnings per share for the current year.

In other Planet Fitness news, Director David P. Berg sold 6,291 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now directly owns 6,615 shares of the company’s stock, valued at approximately $408,343.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 6,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $60.53, for a total transaction of $363,180.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 466,291 shares of company stock valued at $29,813,238. Insiders own 14.52% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock worth $464,518,000 after acquiring an additional 280,726 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Planet Fitness by 3.4% during the 3rd quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock worth $464,518,000 after acquiring an additional 280,726 shares during the last quarter. FMR LLC lifted its holdings in shares of Planet Fitness by 57.7% during the 4th quarter. FMR LLC now owns 7,135,122 shares of the company’s stock worth $382,585,000 after acquiring an additional 2,610,693 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Planet Fitness by 4.3% during the 4th quarter. BlackRock Inc. now owns 6,386,708 shares of the company’s stock worth $342,456,000 after acquiring an additional 265,922 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Planet Fitness by 10.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,283,796 shares of the company’s stock worth $122,457,000 after acquiring an additional 210,503 shares during the last quarter. 94.95% of the stock is owned by institutional investors.

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Planet Fitness Company Profile (NYSE:PLNT)

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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