Planet Fitness, Inc. (NYSE:PLNT) Holdings Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 189.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,282 shares of the company’s stock after buying an additional 21,772 shares during the period. Teacher Retirement System of Texas’ holdings in Planet Fitness were worth $3,291,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PLNT. State Street Corp boosted its holdings in shares of Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after acquiring an additional 37,236 shares in the last quarter. Ninety One UK Ltd bought a new position in Planet Fitness during the 4th quarter valued at $130,376,000. FMR LLC increased its position in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the period. WCM Investment Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth $22,289,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Planet Fitness in the fourth quarter valued at $18,767,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLNT. Stifel Nicolaus lowered their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Piper Sandler increased their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Roth Mkm reiterated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Macquarie decreased their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Stock Performance

Planet Fitness stock opened at $99.83 on Wednesday. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00. The firm has a market cap of $8.45 billion, a PE ratio of 53.67, a P/E/G ratio of 2.45 and a beta of 1.54. The firm’s 50 day moving average price is $100.89 and its two-hundred day moving average price is $94.45.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. Equities analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Company 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.