Zions Bancorporation N.A. Acquires 3,137 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Zions Bancorporation N.A. increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 19.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,226 shares of the company’s stock after purchasing an additional 3,137 shares during the period. Zions Bancorporation N.A.’s holdings in Planet Fitness were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after acquiring an additional 97,823 shares during the period. Bessemer Group Inc. grew its position in shares of Planet Fitness by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after purchasing an additional 45,623 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Planet Fitness by 4.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after acquiring an additional 3,860 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Planet Fitness by 228.8% during the 1st quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company’s stock worth $1,445,000 after acquiring an additional 16,053 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after acquiring an additional 72,131 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Planet Fitness stock opened at $96.21 on Friday. The stock has a market capitalization of $8.19 billion, a PE ratio of 51.73, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $98.59. The business has a 50 day simple moving average of $82.98 and a 200-day simple moving average of $75.76.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PLNT shares. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Raymond James lifted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report 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, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

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.