Planet Fitness Inc (NYSE:PLNT) – Equities researchers at DA Davidson reduced their Q3 2018 earnings estimates for shares of Planet Fitness in a research report issued on Friday, August 10th. DA Davidson analyst M. Kawamoto now forecasts that the company will earn $0.22 per share for the quarter, down from their prior estimate of $0.28. DA Davidson currently has a “Buy” rating and a $56.00 target price on the stock. DA Davidson also issued estimates for Planet Fitness’ Q4 2018 earnings at $0.29 EPS, FY2018 earnings at $1.12 EPS, FY2019 earnings at $1.33 EPS and FY2020 earnings at $1.53 EPS.
Several other equities research analysts have also recently commented on PLNT. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, April 18th. ValuEngine raised shares of Planet Fitness from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Cowen boosted their price target on shares of Planet Fitness from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, June 11th. Berenberg Bank initiated coverage on shares of Planet Fitness in a report on Wednesday, June 20th. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Robert W. Baird upped their target price on shares of Planet Fitness from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, June 25th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Planet Fitness presently has an average rating of “Buy” and an average target price of $52.09.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Planet Fitness had a net margin of 11.68% and a negative return on equity of 76.38%. The firm had revenue of $140.55 million for the quarter, compared to analysts’ expectations of $130.99 million. During the same period in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis.
In other news, CEO Christopher Rondeau sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $43.38, for a total value of $4,338,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 438,446 shares of company stock worth $20,255,037. 19.87% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of PLNT. ETRADE Capital Management LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at about $214,000. NumerixS Investment Technologies Inc raised its holdings in Planet Fitness by 47.4% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock valued at $230,000 after acquiring an additional 1,706 shares during the period. Algert Global LLC bought a new position in Planet Fitness in the 1st quarter valued at about $235,000. Guggenheim Capital LLC bought a new position in Planet Fitness in the 4th quarter valued at about $239,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Planet Fitness in the 1st quarter valued at about $253,000. 94.00% of the stock is currently owned by institutional investors.
About Planet Fitness
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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