Planet Fitness, Inc. (NYSE:PLNT) Stock Position Lifted by State of Wyoming

State of Wyoming lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 177.9% in the 4th quarter, HoldingsChannel reports. The firm owned 7,423 shares of the company’s stock after purchasing an additional 4,752 shares during the quarter. State of Wyoming’s holdings in Planet Fitness were worth $734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PLNT. T. Rowe Price Investment Management Inc. grew its stake in shares of Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after purchasing an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd bought a new position in Planet Fitness during the fourth quarter valued at about $130,376,000. Norges Bank bought a new position in Planet Fitness during the fourth quarter valued at about $100,009,000. Nomura Holdings Inc. boosted its stake in Planet Fitness by 103.4% during the fourth quarter. Nomura Holdings Inc. now owns 11,170 shares of the company’s stock valued at $1,104,000 after buying an additional 340,370 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Planet Fitness by 199.7% during the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company’s stock valued at $47,728,000 after buying an additional 321,644 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLNT shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. Macquarie reaffirmed a “neutral” rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. DA Davidson reaffirmed a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating, thirteen 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 a consensus price target of $103.00.

Planet Fitness Stock Up 1.0%

NYSE:PLNT opened at $98.93 on Monday. Planet Fitness, Inc. has a 1-year low of $60.56 and a 1-year high of $110.00. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 53.19, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The stock has a fifty day simple moving average of $96.47 and a 200 day simple moving average of $98.46.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The business had revenue of $276.66 million during the quarter, compared to analysts’ expectations of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Equities analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

About Planet Fitness

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.