State of Alaska Department of Revenue Boosts Stake in Planet Fitness, Inc. (NYSE:PLNT)

State of Alaska Department of Revenue grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,825 shares of the company’s stock after buying an additional 310 shares during the period. State of Alaska Department of Revenue’s holdings in Planet Fitness were worth $797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after acquiring an additional 97,823 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Planet Fitness by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after purchasing an additional 45,623 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Planet Fitness in the 1st quarter valued at about $1,786,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Planet Fitness by 4.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after purchasing an additional 3,860 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Planet Fitness by 228.8% during the first quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company’s stock worth $1,445,000 after buying an additional 16,053 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Roth Mkm upped their target price on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their target price on Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Planet Fitness Stock Up 6.1 %

Shares of NYSE:PLNT opened at $84.63 on Thursday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 46.50, a price-to-earnings-growth ratio of 2.64 and a beta of 1.49. The company has a 50 day moving average of $81.21 and a two-hundred day moving average of $74.39. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $85.08.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current 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.