Planet Fitness Inc (NYSE:PLNT) – Equities researchers at Piper Jaffray Companies upped their Q2 2019 earnings per share (EPS) estimates for shares of Planet Fitness in a research note issued to investors on Thursday, May 2nd, Zacks Investment Research reports. Piper Jaffray Companies analyst P. Keith now forecasts that the company will post earnings of $0.44 per share for the quarter, up from their previous forecast of $0.42. Piper Jaffray Companies currently has a “Overweight” rating and a $84.00 target price on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ FY2019 earnings at $1.58 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.52 EPS, Q3 2020 earnings at $0.47 EPS and Q4 2020 earnings at $0.53 EPS.
Several other research analysts have also recently weighed in on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price target for the company from $49.00 to $75.00 in a research report on Friday, February 22nd. They noted that the move was a valuation call. Wedbush boosted their price target on shares of Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 27th. DA Davidson boosted their price target on shares of Planet Fitness to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Finally, Roth Capital boosted their price target on shares of Planet Fitness from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.57.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $148.82 million for the quarter, compared to analysts’ expectations of $153.41 million. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
In other Planet Fitness news, CEO Christopher Rondeau sold 6,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $60.53, for a total transaction of $363,180.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Berg sold 6,291 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.73, for a total transaction of $388,343.43. Following the sale, the director now owns 6,615 shares in the company, valued at $408,343.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 466,291 shares of company stock worth $29,813,238. 14.52% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Ffcm LLC purchased a new stake in Planet Fitness during the fourth quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in Planet Fitness by 99.3% during the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after purchasing an additional 284 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Planet Fitness during the first quarter worth about $32,000. US Bancorp DE increased its stake in Planet Fitness by 28.7% during the first quarter. US Bancorp DE now owns 645 shares of the company’s stock worth $44,000 after purchasing an additional 144 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Planet Fitness by 4,557.1% during the first quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock worth $45,000 after purchasing an additional 638 shares during the period. Institutional investors own 96.21% 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 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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