On Tuesday, Planet Fitness, Inc. (NYSE:PLNT – Get Free Report ) was the target of unusual options trading activity, as investors purchased 10,338 call options on the stock, a 154% increase compared to the typical one-day trading volume of 4,075 call options.
Analyst Rating Changes
A number of equity research analysts have issued reports on PLNT stock. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $92.00 in a research note on Monday. Jefferies Financial Group raised their rating on Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Royal Bank lowered their price target for Planet Fitness from $80.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, May 10th. JPMorgan Chase raised Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Finally, Robert W. Baird boosted their price target on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Four research analysts have given the stock a hold rating, ten have given a buy rating, and one has given a strong buy rating. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “moderate buy” and an average price target of $77.64.
Read the latest report on PLNT
Planet Fitness Institutional Transaction
A number of institutional investors have been buying and selling shares of the company recently. Cetera Advisors LLC increased its holdings in Planet Fitness by 568.8% in the first quarter. Cetera Advisors LLC now owns 25,320 shares of the company’s stock, valued at $1,586,000, after acquiring an additional 21,534 shares during the period. Cetera Investment Advisers increased its holdings in Planet Fitness by 74.5% in the first quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock, valued at $3,676,000, after purchasing an additional 25,054 shares during the last quarter. Virtu Financial LLC increased its holdings in Planet Fitness by 72.2% in the first quarter. Virtu Financial LLC now holds 5,611 shares of the company’s stock, valued at $351,000, after purchasing an additional 2,352 shares during the period. Tidal Investments LLC increased its stake in Planet Fitness by 71.3% in the first quarter. Tidal Investments LLC now holds 4,941 shares of the company’s stock, valued at $309,000, after purchasing an additional 2,056 shares in the last quarter. Finally, Ionic Capital Management LLC purchased a new position in Planet Fitness in the first quarter, valued at about $814,000. 95.53% of the stock is now held by institutional investors.
Planet Fitness shares rose 0.5%
Shares of NYSE:PLNT opened trading at $73.36 on Wednesday. The company’s 50-day simple moving average is $64.91 and its 200-day simple moving average is $66.41. The stock has a market cap of $6.47 billion, a P/E ratio of 42.16, a PEG ratio of 2.44 and a beta of 1.43. Planet Fitness’s 52-week low is $44.13 and its 52-week high is $75.86.
Planet Fitness (NYSE:PLNT – get free report ) last released its quarterly earnings data on Thursday, May 9th. The company reported quarterly earnings per share of $0.53, beating the consensus estimate of $0.49 by $0.04. The company’s quarterly revenue was $248.0 million, beating analyst expectations of $249.48 million. Planet Fitness had a return on equity of -140.14% and a net margin of 13.66%. The company’s quarterly revenue grew 11.6% year over year. Earnings per share in the same period last year were $0.41. Analysts on average are expecting Planet Fitness to post earnings per share of $2.43 this year.
Planet Fitness Company Profile
(Get your free report)
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 and Equipment. The company has franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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