California State Teachers Retirement System lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,473 shares of the company’s stock after selling 4,631 shares during the period. California State Teachers Retirement System owned 0.10% of Planet Fitness worth $6,532,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Planet Fitness by 66.8% during the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after buying an additional 351,401 shares during the last quarter. Oak Thistle LLC acquired a new position in Planet Fitness during the fourth quarter worth $389,000. Dimensional Fund Advisors LP boosted its stake in Planet Fitness by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after buying an additional 133,541 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of Planet Fitness in the 3rd quarter valued at $944,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Planet Fitness by 80.4% in the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after purchasing an additional 5,719 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Wall Street Analysts Forecast Growth
PLNT has been the topic of several recent analyst reports. Raymond James upped their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Robert W. Baird upped their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Thursday, May 9th. Finally, Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and decreased their price target for the company from $80.00 to $70.00 in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.
View Our Latest Analysis on Planet Fitness
Planet Fitness Price Performance
Shares of NYSE PLNT opened at $71.24 on Tuesday. The stock’s 50-day moving average is $62.68 and its two-hundred day moving average is $66.00. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $75.86. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 40.40, a price-to-earnings-growth ratio of 2.29 and a beta of 1.43.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. During the same quarter in the prior year, the business earned $0.41 EPS. Planet Fitness’s revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.42 earnings per share for the current fiscal year.
Planet Fitness 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.
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