(NYSE: PLNT – Get Rating) — The DA Davidson Corporation released its second-quarter 2022 EPS estimate for Planet Fitness stock in a report released Friday, May 13th. DA Davidson analyst L. Weiser expects the company to earn $0.36 per share during this quarter.
Planet Fitness (NYSE: PLNT – Get Rating) released its latest quarterly earnings data on Tuesday, May 10. The company reported earnings of $0.32 per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The company generated $186.70 million in revenue for the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. Planet Fitness revenue increased 66.8% year over year. During the same period in the previous year, the company reported earnings of $0.10 per share.
Other stock analysts also recently released reports on the company. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report released on Wednesday, May 11. BMO Capital Markets lowered its price target on Planet Fitness from $96.00 to $88.00 in a report on Wednesday, May 11. Evercore ISI began coverage on Planet Fitness in a report on Monday, March 14. They issued a “superior” rating and a price target of $130.00 for the company. Piper Sandler lowered the target price on Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11. Finally, StockNews.com began covering Planet Fitness in a report on Thursday, March 31. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a target price of $96.50.
PLNT shares opened at $72.59 on Monday. The 50-day moving average per share is $81.68 and the 200-day moving average is $85.64. The stock has a market capitalization of $6.61 billion, a PE ratio of 113.42, a P/E/G ratio of 2.29 and a beta of 1.16. Planet Fitness recorded a one-year low of $67.39 and a one-year high of $99.60.
Hedge funds have recently bought and sold shares of the company. Suburban Capital Partners LP boosted its position in shares of Planet Fitness by 938.3% in the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock valued at $251,049,000 after purchasing an additional 2,888,217 shares during the period. BlackRock Inc boosted its stock of Planet Fitness by 34.8% in the first quarter. BlackRock now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during this period. Artemis Investment Management LLP boosted its position in shares of Planet Fitness by 225.3% in the fourth quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after purchasing an additional 1,108,100 shares during the period. Eagle Asset Management Inc. Its position in shares of Planet Fitness increased 79.2% in the fourth quarter. Eagle Asset Management now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares during the period. Finally, Norges Bank bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $73,431,000. 93.87% of the shares are owned by hedge funds and other institutional investors.
About Planet Fitness Company (Get Rating)
Planet Fitness, Inc, along with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. They operate through franchise divisions and corporate owned and equipment stores. The franchise segment is involved in the franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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