Taking the lead: Planet Fitness Inc. (PLNT)

Planet Fitness Inc. (NYSE: PLNT) stock fell -5.57% on Friday to $57.47 against a previous-day closing price of $60.86. With 1.41 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.81 million shares. During the session, the Leisure company that operates in wider Consumer Cyclical sector, reached to the highest price of $60.60 whereas the lowest price it dropped to was $57.18. The 52-week range on PLNT shows that it touched its highest point at $99.60 and its lowest point at $60.76 during that stretch. It currently has a 1-year price target of $93.50. Beta for the stock currently stands at 1.20.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLNT was down-trending over the past week, with a drop of -15.60%, but this was down by -24.59% over a month. Three-month performance dropped to -14.85% while six-month performance fell -31.99%. The stock lost -26.89% in the past year, while it has lost -36.55% so far this year. A look at the trailing 12-month EPS for PLNT yields 0.73 with Next year EPS estimates of 2.12. For the next quarter, that number is 0.38. This implies an EPS growth rate of 373.10% for this year and 38.91% for next year.

Float and Shares Shorts:

At present, 84.81 million PLNT shares are outstanding with a float of 82.02 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.33 million, which was 3.92% higher than short shares on Jun 14, 2022. In addition to Mr. Christopher J. Rondeau as the firm’s CEO & Director, Mr. Dorvin Donald Lively B.A. serves as its Pres.

Institutional Ownership:

Through their ownership of 106.26% of PLNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.82% of PLNT, in contrast to 6.55% held by mutual funds. Shares owned by individuals account for 40.84%. As the largest shareholder in PLNT with 8.84% of the stake, The Vanguard Group, Inc. holds 7,445,666 shares worth 7,445,666. A second-largest stockholder of PLNT, SRS Investment Management LLC, holds 6,956,803 shares, controlling over 8.26% of the firm’s shares. BlackRock Advisors LLC is the third largest shareholder in PLNT, holding 4,829,494 shares or 5.73% stake. With a 4.73% stake in PLNT, the BlackRock Mid Cap Growth Equity P is the largest stakeholder. A total of 3,986,965 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.99% of PLNT stock, is the second-largest Mutual Fund holder. It holds 2,515,929 shares valued at 170.45 million. Vanguard Small Cap Index Fund holds 2.55% of the stake in PLNT, owning 2,150,142 shares worth 145.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLNT since 18 analysts follow the stock currently. There are 14 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLNT analysts setting a high price target of $115.00 and a low target of $73.00, the average target price over the next 12 months is $92.94. Based on these targets, PLNT could surge 100.1% to reach the target high and rise by 27.02% to reach the target low. Reaching the average price target will result in a growth of 61.72% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PLNT will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $1.56 being high and $1.50 being low. For PLNT, this leads to a yearly average estimate of $1.53. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Planet Fitness Inc. surprised analysts by $0.00 when it reported $0.38 EPS against a consensus estimate of $0.38. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is $0.42 and the low estimate is $0.33. The average estimate for the next quarter is thus $0.38.

Summary of Insider Activity:

Insiders traded PLNT stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 4,051 shares were bought while 0 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 316,806 while 262,367 shares were sold.

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