Heritage Oak Wealth Advisors LLC Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Heritage Oak Wealth Advisors LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 27,350 shares of the company’s stock, valued at approximately $2,704,000. Planet Fitness makes up 1.3% of Heritage Oak Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also bought and sold shares of the business. State Street Corp grew its holdings in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after buying an additional 37,236 shares during the last quarter. Ninety One UK Ltd bought a new stake in Planet Fitness during the fourth quarter worth $130,376,000. FMR LLC raised its position in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the last quarter. WCM Investment Management LLC bought a new position in Planet Fitness during the 4th quarter valued at $22,289,000. Finally, Artemis Investment Management LLP purchased a new position in Planet Fitness during the 4th quarter worth $18,767,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PLNT. Stifel Nicolaus increased their target price on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Robert W. Baird increased their price target on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson restated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Raymond James lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.38.

Planet Fitness Trading Up 0.4 %

Planet Fitness stock opened at $90.52 on Thursday. The firm’s 50 day simple moving average is $102.44 and its 200 day simple moving average is $92.24. The firm has a market capitalization of $7.66 billion, a PE ratio of 48.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00.

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

Planet Fitness Profile

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.