Planet Fitness Sees Unusually High Options Volume (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of some unusual options trading on Tuesday. Investors bought 10,338 call options on the company. This represents an increase of approximately 154% compared to the typical daily volume of 4,075 call options.

Analyst Ratings Changes

Several research firms have issued reports on PLNT. Raymond James raised their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. Royal Bank of Canada decreased their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price objective for the company from $80.00 to $70.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $78.00 in a research note on Tuesday, May 14th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Trading Up 1.2 %

Shares of PLNT opened at $74.21 on Thursday. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 2.46 and a beta of 1.43. The stock has a 50 day moving average of $65.20 and a 200-day moving average of $66.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Planet Fitness will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds have recently made changes to their positions in PLNT. Allworth Financial LP raised its holdings in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the first quarter valued at $27,000. McGlone Suttner Wealth Management Inc. bought a new position in Planet Fitness during the fourth quarter valued at about $47,000. Covestor Ltd grew its holdings in Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

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.