JPMorgan Chase & Co. Raises Holdings in Planet Fitness, Inc. (NYSE:PLNT)

JPMorgan Chase & Co. increased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,609,196 shares of the company’s stock after buying an additional 36,803 shares during the period. JPMorgan Chase & Co. owned about 4.27% of Planet Fitness worth $356,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Planet Fitness in the third quarter valued at about $1,990,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Planet Fitness by 8.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company’s stock valued at $1,255,000 after purchasing an additional 1,210 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Planet Fitness in the third quarter worth about $200,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Planet Fitness during the third quarter valued at about $478,000. 95.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLNT has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group initiated coverage on Planet Fitness in a report on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target for the company. Macquarie cut their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. DA Davidson reiterated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Down 3.0 %

Planet Fitness stock opened at $96.18 on Monday. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s 50-day moving average price is $100.46 and its 200 day moving average price is $94.82.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the company earned $0.60 EPS. The business’s revenue was up 19.4% on a year-over-year basis. Equities analysts expect that Planet Fitness, Inc. will post 2.51 EPS 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.