A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after buying an additional 1,852,867 shares during the period. Invesco Ltd. boosted its stake in shares of Planet Fitness by 38.9% during the 1st quarter. Invesco Ltd. now owns 1,700,236 shares of the company’s stock valued at $143,636,000 after buying an additional 476,578 shares during the period. FMR LLC boosted its stake in shares of Planet Fitness by 9.0% during the 2nd quarter. FMR LLC now owns 1,653,529 shares of the company’s stock valued at $112,457,000 after buying an additional 136,191 shares during the period. Bares Capital Management Inc. boosted its stake in shares of Planet Fitness by 355.5% during the 2nd quarter. Bares Capital Management Inc. now owns 1,438,570 shares of the company’s stock valued at $97,837,000 after buying an additional 1,122,752 shares during the period. Finally, State Street Corp raised its holdings in shares of Planet Fitness by 1.0% during the 2nd quarter. State Street Corp now owns 1,266,432 shares of the company’s stock valued at $86,130,000 after purchasing an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Analyst Ratings Changes

PLNT has been the topic of a number of recent research reports. DA Davidson raised their price target on shares of Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a report on Friday, November 11th. Morgan Stanley cut their price target on shares of Planet Fitness from $93.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, November 14th. StockNews.com initiated coverage on shares of Planet Fitness in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird raised their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 11th. Finally, Piper Sandler lifted their target price on shares of Planet Fitness from $79.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, December 22nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.46.

Planet Fitness Stock Performance

Shares of PLNT opened at $82.48 on Tuesday. The company has a 50-day simple moving average of $78.86 and a 200-day simple moving average of $72.47. The firm has a market capitalization of $7.39 billion, a P/E ratio of 98.19, a P/E/G ratio of 1.26 and a beta of 1.23. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $97.04.

Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $244.39 million during the quarter, compared to analyst estimates of $237.40 million. Planet Fitness had a net margin of 8.52% and a negative return on equity of 36.77%. As a group, equities analysts forecast that Planet Fitness, Inc. will post 1.59 earnings per share for the current year.

Planet Fitness Company Profile

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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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