Planet Fitness Inc. (PLNT) expanding its growth trajectory ahead

Planet Fitness Inc. (NYSE: PLNT) stock fell -3.56% on Monday to $48.50 against a previous-day closing price of $50.29. With 6.33 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.67 million shares. During the session, the Leisure company that operates in wider Consumer Cyclical sector, reached to the highest price of $50.00 whereas the lowest price it dropped to was $48.01. The 52-week range on PLNT shows that it touched its highest point at $85.90 and its lowest point at $49.91 during that stretch. It currently has a 1-year price target of $75.59. Beta for the stock currently stands at 1.32.

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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 -16.84%, but this was down by -17.87% over a month. Three-month performance dropped to -31.36% while six-month performance fell -34.46%. The stock lost -28.77% in the past year, while it has lost -38.45% so far this year. A look at the trailing 12-month EPS for PLNT yields 1.47 with Next year EPS estimates of 2.57. For the next quarter, that number is 0.55. This implies an EPS growth rate of 130.60% for this year and 17.91% for next year.

Float and Shares Shorts:

At present, 84.62 million PLNT shares are outstanding with a float of 84.15 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.69 million, which was 5.55% higher than short shares on Jul 30, 2023. In addition to Mr. Christopher J. Rondeau as the firm’s CEO & Director, Mr. Thomas J. Fitzgerald serves as its Chief Financial Officer.

Institutional Ownership:

Other institutions hold 63.18% of PLNT, in contrast to 6.63% held by mutual funds. Shares owned by individuals account for 47.97%. As the largest shareholder in PLNT with 9.30% of the stake, The Vanguard Group, Inc. holds 7,861,973 shares worth 7,861,973. A second-largest stockholder of PLNT, BlackRock Fund Advisors, holds 7,274,041 shares, controlling over 8.60% of the firm’s shares. SRS Investment Management LLC is the third largest shareholder in PLNT, holding 6,956,803 shares or 8.23% stake. With a 4.07% stake in PLNT, the BlackRock Mid Cap Growth Equity P is the largest stakeholder. A total of 3,438,559 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.24% of PLNT stock, is the second-largest Mutual Fund holder. It holds 2,742,613 shares valued at 166.75 million. Vanguard Total Stock Market ETF holds 3.16% of the stake in PLNT, owning 2,668,968 shares worth 162.27 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PLNT reported revenue of $224.44M and operating income of $55.09M. The EBITDA in the recently reported quarter was $87.89M and diluted EPS was $0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLNT since 0 analysts follow the stock currently. 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 $100.00 and a low target of $45.00, the average target price over the next 12 months is $70.35. Based on these targets, PLNT could surge 106.19% to reach the target high and fall by -7.22% to reach the target low. Reaching the average price target will result in a growth of 45.05% 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.

Summary of Insider Activity:

Insiders traded PLNT stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 1,904 shares were bought while 0 shares were sold. The number of buy transactions has increased to 44 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 96,222 while 224 shares were sold.

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