Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Research analysts at William Blair increased their Q3 2022 earnings per share estimates for shares of Planet Fitness in a note issued to investors on Tuesday, August 2nd. William Blair analyst S. Zackfia now expects that the company will earn $0.43 per share for the quarter, up from their previous estimate of $0.37. The consensus estimate for Planet Fitness’ current full-year earnings is $1.55 per share. William Blair also issued estimates for Planet Fitness’ Q4 2022 earnings at $0.38 EPS.
A number of other equities research analysts have also recently weighed in on PLNT. BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price objective for the company in a research note on Thursday, July 7th. Piper Sandler decreased their price objective on Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. Robert W. Baird decreased their price objective on Planet Fitness from $108.00 to $92.00 in a research note on Wednesday, May 11th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research report on Wednesday, May 11th. Finally, BMO Capital Markets reduced their target price on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Planet Fitness Trading Down 1.1 %

Shares of PLNT stock opened at $80.29 on Friday. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 125.46, a P/E/G ratio of 1.45 and a beta of 1.17. Planet Fitness has a twelve month low of $61.11 and a twelve month high of $99.60. The stock has a fifty day simple moving average of $72.00 and a two-hundred day simple moving average of $78.79.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The business had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PLNT. Commonwealth Equity Services LLC increased its holdings in shares of Planet Fitness by 7.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,789 shares of the company’s stock valued at $433,000 after purchasing an additional 350 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Planet Fitness by 0.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,806 shares of the company’s stock worth $4,421,000 after buying an additional 148 shares during the last quarter. CWM LLC purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $56,000. Qube Research & Technologies Ltd boosted its stake in shares of Planet Fitness by 57.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 36,163 shares of the company’s stock worth $3,276,000 after buying an additional 13,174 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $1,229,000. 93.87% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile

(Get Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

Featured Articles

• Get a free copy of the StockNews.com research report on Planet Fitness (PLNT)
• BJ’s Wholesale Club Stock Has More Room to Grow
• 3 Hotel Stocks to Consider Checking into After Earnings
• How Does Freeport McMoran Inc Compare to Its Sector Competitors?
• Can FuelCell Energy Surge Higher This Year?
• Is It Time to Take a Ride on Cedar Fair Stock?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Planet Fitness, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Planet Fitness wasn’t on the list.
While Planet Fitness currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Today, Kate’s guest is Rhys Williams, chief investment officer for the Opportunistic All Cap Equity, a long-short strategy at Spouting Rock Asset Management.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
As Featured By:
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

source