US Bancorp DE Decreases Stake in Planet Fitness, Inc. (NYSE:PLNT)

US Bancorp DE lowered its position in Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 12,014 shares of the company’s stock after selling 773 shares during the period. US Bancorp DE’s holdings in Planet Fitness were worth $693,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in Planet Fitness by 11.0% in the second quarter. Xponance Inc. now owns 7,586 shares of the company’s stock worth $516,000 after acquiring an additional 754 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Planet Fitness by 14.5% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,149,179 shares of the company’s stock worth $78,155,000 after buying an additional 145,821 shares during the last quarter. Teca Partners LP purchased a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $1,306,000. FMR LLC lifted its position in shares of Planet Fitness by 9.0% during the 2nd quarter. FMR LLC now owns 1,653,529 shares of the company’s stock worth $112,457,000 after buying an additional 136,191 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Planet Fitness by 16.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 35,703 shares of the company’s stock worth $2,428,000 after buying an additional 5,019 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT opened at $79.22 on Friday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 94.31, a P/E/G ratio of 1.28 and a beta of 1.23. The company’s fifty day moving average is $77.94 and its two-hundred day moving average is $72.05. Planet Fitness, Inc. has a 1 year low of $54.15 and a 1 year high of $97.04.

Planet Fitness (NYSE:PLNTGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Planet Fitness had a net margin of 8.52% and a negative return on equity of 36.77%. The company had revenue of $244.39 million for the quarter, compared to analysts’ expectations of $237.40 million. Sell-side analysts predict that Planet Fitness, Inc. will post 1.59 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PLNT shares. StockNews.com started coverage on shares of Planet Fitness in a research report on Wednesday, October 12th. They set a “hold” rating for the company. BMO Capital Markets boosted their price objective on shares of Planet Fitness from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 9th. Cowen lifted their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. Finally, DA Davidson lifted their target price on shares of Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a report on Friday, November 11th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.46.

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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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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