Arizona State Retirement System Lowers Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Arizona State Retirement System trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,546 shares of the company’s stock after selling 658 shares during the period. Arizona State Retirement System’s holdings in Planet Fitness were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PLNT. State Street Corp lifted its position in shares of Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares in the last quarter. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $130,376,000. FMR LLC lifted its position in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $18,767,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. Roth Mkm reiterated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Finally, Macquarie reduced their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Stock Performance

PLNT opened at $93.71 on Tuesday. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 50.38, a P/E/G ratio of 2.45 and a beta of 1.54. The stock’s 50 day moving average price is $101.63 and its 200-day moving average price is $93.06. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. As a group, analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.