Planet Fitness, Inc. (NYSE:PLNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Planet Fitness, Inc. franchises and operates fitness centers through its subsidiaries. The company’s operating segments consists of Franchise, Corporate-owned stores and Equipment. It is engaged in licensing and selling franchises under the Planet Fitness trade name, owning and operating fitness centers under the Planet Fitness trade name and selling fitness-related equipment to franchisee-owned stores. Planet Fitness, Inc. is headquartered in Newington, New Hampshire. “

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC increased their target price on Planet Fitness from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Roth Capital reiterated a “buy” rating and set a $23.00 target price on shares of Planet Fitness in a research note on Wednesday, May 3rd. Guggenheim reiterated a “buy” rating and set a $24.00 target price on shares of Planet Fitness in a research note on Monday, April 24th. Finally, Imperial Capital increased their target price on Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.20.

Planet Fitness (NYSE PLNT) opened at 24.55 on Thursday. The stock has a market cap of $1.94 billion, a P/E ratio of 42.33 and a beta of 0.90. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $25.19. The company has a 50-day moving average of $23.23 and a 200-day moving average of $21.34.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter last year, the company earned $0.17 earnings per share. Planet Fitness’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts predict that Planet Fitness will post $0.47 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in PLNT. Bank of New York Mellon Corp boosted its position in shares of Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock valued at $94,002,000 after buying an additional 3,381,810 shares during the period. BlackRock Inc. boosted its position in shares of Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after buying an additional 2,496,984 shares during the period. DSAM Partners London Ltd purchased a new position in shares of Planet Fitness during the second quarter valued at about $36,383,000. Vanguard Group Inc. boosted its position in shares of Planet Fitness by 30.2% in the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock valued at $151,286,000 after buying an additional 1,504,593 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Planet Fitness by 54,692.9% in the first quarter. Victory Capital Management Inc. now owns 1,351,742 shares of the company’s stock valued at $26,047,000 after buying an additional 1,349,275 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.

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