Planet Fitness (NYSE:PLNT)’s share price hit a new 52-week high and low during trading on Monday . The stock traded as low as $41.50 and last traded at $40.39, with a volume of 462740 shares trading hands. The stock had previously closed at $40.87.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, April 18th. DA Davidson set a $45.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a research note on Monday. Roth Capital set a $41.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a research note on Thursday, March 1st. Piper Jaffray reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday, February 27th. Finally, Jefferies Group reiterated a “hold” rating and issued a $35.00 price target on shares of Planet Fitness in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Planet Fitness has an average rating of “Buy” and a consensus price target of $39.63.
The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of -5.09. The stock has a market capitalization of $3,989.39, a PE ratio of 48.27, a P/E/G ratio of 1.78 and a beta of 0.54.
Planet Fitness declared that its Board of Directors has initiated a share repurchase program on Thursday, February 22nd that allows the company to buyback $80.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, CEO Christopher Rondeau sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total transaction of $1,216,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 16.38% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. grew its position in shares of Planet Fitness by 3.2% during the fourth quarter. American International Group Inc. now owns 58,299 shares of the company’s stock worth $2,019,000 after acquiring an additional 1,782 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Planet Fitness by 10.5% during the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after purchasing an additional 2,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Planet Fitness by 81.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after purchasing an additional 2,244 shares during the period. Strs Ohio lifted its holdings in shares of Planet Fitness by 69.7% during the fourth quarter. Strs Ohio now owns 5,600 shares of the company’s stock worth $193,000 after purchasing an additional 2,300 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Planet Fitness during the fourth quarter worth $104,000. Institutional investors and hedge funds own 98.05% of the company’s stock.
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About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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