William Blair Comments on Planet Fitness, Inc.’s Q3 2022 Earnings (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Research analysts at William Blair upped their Q3 2022 earnings per share estimates for shares of Planet Fitness in a research note issued on Tuesday, August 2nd. William Blair analyst S. Zackfia now forecasts that the company will earn $0.43 per share for the quarter, up from their previous estimate of $0.37. The consensus estimate for Planet Fitness’ current full-year earnings is $1.55 per share. William Blair also issued estimates for Planet Fitness’ Q4 2022 earnings at $0.38 EPS.

Several other equities research analysts also recently issued reports on the company. Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, May 11th. DA Davidson lowered their price objective on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. BMO Capital Markets lowered their price objective on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. Finally, BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price objective on the stock in a research report on Thursday, July 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $98.00.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $80.25 on Friday. The business has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $78.76. Planet Fitness has a 1 year low of $61.11 and a 1 year high of $99.60. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 125.39, a P/E/G ratio of 1.50 and a beta of 1.17.

Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 66.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. O Dell Group LLC acquired a new stake in Planet Fitness in the first quarter valued at about $30,000. Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $33,000. CWM LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $56,000. First Horizon Advisors Inc. boosted its stake in Planet Fitness by 290.5% in the second quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 581 shares in the last quarter. Finally, Standard Family Office LLC boosted its stake in Planet Fitness by 1,147.1% in the first quarter. Standard Family Office LLC now owns 848 shares of the company’s stock valued at $72,000 after buying an additional 780 shares in the last quarter. Institutional investors own 93.87% of the company’s stock.

About Planet Fitness

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.