William Blair Brokers Decrease Earnings Estimates for Planet Fitness, Inc. (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) – Equities research analysts at William Blair dropped their Q4 2024 EPS estimates for Planet Fitness in a report issued on Tuesday, August 6th. William Blair analyst S. Zackfia now expects that the company will earn $0.62 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share.

Several other equities analysts also recently weighed in on PLNT. Raymond James raised their target price on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Robert W. Baird lifted their price target on shares of Planet Fitness from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Roth Mkm lifted their price objective on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $79.87.

Planet Fitness Stock Up 1.0 %

Shares of NYSE:PLNT traded up $0.80 during trading on Thursday, reaching $79.04. 2,469,125 shares of the company’s stock traded hands, compared to its average volume of 1,695,920. The company has a 50-day simple moving average of $73.22 and a 200-day simple moving average of $67.00. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $79.53. The firm has a market cap of $6.97 billion, a PE ratio of 45.43, a P/E/G ratio of 2.44 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year.

Institutional Trading of Planet Fitness

A number of hedge funds have recently bought and sold shares of PLNT. Allworth Financial LP grew its position in shares of Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 1st quarter valued at about $27,000. GAMMA Investing LLC grew its position in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC lifted its holdings in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after acquiring an additional 153 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares in the company, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Company Profile

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 Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.