Petrus Trust Company LTA purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,796 shares of the company's stock, valued at approximately $219,000.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in shares of Planet Fitness by 58.4% during the third quarter. Global Retirement Partners LLC now owns 852 shares of the company's stock valued at $56,000 after purchasing an additional 314 shares in the last quarter. Captrust Financial Advisors increased its holdings in Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company's stock worth $99,000 after buying an additional 219 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company's stock worth $112,000 after buying an additional 157 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Planet Fitness during the second quarter worth about $108,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company's stock worth $155,000 after buying an additional 1,635 shares during the last quarter. 94.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PLNT. Piper Sandler raised their price objective 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. BMO Capital Markets raised their price objective on shares of Planet Fitness from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, November 9th. Robert W. Baird lifted their target price on shares of Planet Fitness from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Friday, February 24th. Morgan Stanley lifted their target price on shares of Planet Fitness from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Monday, February 27th. Finally, Raymond James lifted their target price on shares of Planet Fitness from $92.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Friday, February 24th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.69.

Planet Fitness Trading Up 1.4 %

Shares of NYSE:PLNT opened at $81.88 on Tuesday. The company has a 50 day moving average of $81.08 and a 200 day moving average of $73.00. The stock has a market cap of $7.33 billion, a P/E ratio of 69.98, a P/E/G ratio of 1.50 and a beta of 1.30. Planet Fitness, Inc. has a 12 month low of $54.15 and a 12 month high of $88.31.

Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.47 by $0.06. The company had revenue of $281.30 million during the quarter, compared to analysts' expectations of $271.48 million. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. Planet Fitness's revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.

About Planet Fitness

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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.

Further Reading

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