Wall Street analysts expect Planet Fitness, Inc. (NYSE:PLNT) to post sales of $179.61 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Planet Fitness’ earnings, with the lowest sales estimate coming in at $170.10 million and the highest estimate coming in at $194.70 million. Planet Fitness posted sales of $133.77 million during the same quarter last year, which suggests a positive year over year growth rate of 34.3%. The business is scheduled to issue its next earnings report on Thursday, February 17th.
On average, analysts expect that Planet Fitness will report full-year sales of $583.52 million for the current financial year, with estimates ranging from $573.50 million to $598.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $859.78 million, with estimates ranging from $759.00 million to $973.94 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Planet Fitness.
A number of equities research analysts have recently weighed in on PLNT shares. JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $88.00 to $90.00 in a research report on Friday, January 14th. Robert W. Baird boosted their price target on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Planet Fitness from $101.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, January 12th. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Thursday, January 27th. Finally, Cowen upgraded Planet Fitness to a “hold” rating and boosted their price objective for the company from $100.00 to $110.00 in a research report on Wednesday, January 12th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $99.08.
Shares of PLNT stock opened at $93.72 on Thursday. The firm has a market cap of $8.12 billion, a P/E ratio of 167.36, a P/E/G ratio of 2.47 and a beta of 1.21. Planet Fitness has a fifty-two week low of $67.89 and a fifty-two week high of $99.60. The business’s 50 day moving average price is $87.42 and its 200-day moving average price is $82.99.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Commonwealth Equity Services LLC grew its stake in shares of Planet Fitness by 13.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,569 shares of the company’s stock worth $343,000 after acquiring an additional 534 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Planet Fitness by 1.4% in the second quarter. Legal & General Group Plc now owns 57,005 shares of the company’s stock worth $4,289,000 after acquiring an additional 793 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Planet Fitness in the second quarter worth $36,000. FMR LLC grew its stake in shares of Planet Fitness by 4.8% in the second quarter. FMR LLC now owns 1,940,996 shares of the company’s stock worth $146,059,000 after acquiring an additional 88,098 shares in the last quarter. Finally, Liberty Wealth Management LLC grew its stake in shares of Planet Fitness by 13,070.0% in the second quarter. Liberty Wealth Management LLC now owns 5,268 shares of the company’s stock worth $70,000 after acquiring an additional 5,228 shares in the last quarter. 96.38% of the stock is currently owned by institutional investors.
Planet Fitness Company Profile
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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