Home  »  Company   »  Stock Performance And Forecast For Planet Fitness ...

Stock Performance And Forecast For Planet Fitness Inc.

In the last trading session, 6.33 million Planet Fitness Inc. (NYSE:PLNT) shares changed hands as the company’s beta touched 1.32. With the company’s per share price at $48.50 changed hands at -$1.79 or -3.56% during last session, the market valuation stood at $5.08B. PLNT’s last price was a discount, traded about -77.11% off its 52-week high of $85.90. The share price had its 52-week low at $49.91, which suggests the last value was -2.91% down since then. When we look at Planet Fitness Inc.’s average trading volume, we note the 10-day average is 2.69 million shares, with the 3-month average coming to 1.67 million.

Analysts gave the Planet Fitness Inc. (PLNT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 1 out of 18 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended PLNT as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Planet Fitness Inc.’s EPS for the current quarter is expected to be $0.55.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


Planet Fitness Inc. (NYSE:PLNT) trade information

Instantly PLNT was in red as seen at the end of in last trading. With action -16.84%, the performance over the past five days has been red. The drop to weekly highs of 60.48 on Monday, 09/18/23 subtracted -3.56% to the stock’s daily price. The company’s shares are showing year-to-date downside of -38.45%, with the 5-day performance at -16.84% in the red. However, in the 30-day time frame, Planet Fitness Inc. (NYSE:PLNT) is -17.87% down. Looking at the short shares, we see there were 4.69 million shares sold at short interest cover period of 3.37 days.

The consensus price target for the stock as assigned by Wall Street analysts is $68.88, meaning bulls need an upside of 29.59% from its current market value. According to analyst projections, PLNT’s forecast low is $45.00 with $100.00 as the target high. To hit the forecast high, the stock’s price needs a -106.19% plunge from its current level, while the stock would need to tank 7.22% for it to hit the projected low.

Planet Fitness Inc. (PLNT) estimates and forecasts

Data shows that the Planet Fitness Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -34.46% over the past 6 months, a 32.93% in annual growth rate that is considerably higher than the industry average of 15.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Planet Fitness Inc. will rise 31.00%, while the growth in revenue is estimated to hit 9.40% for the next quarter. Year-over-year growth is forecast to reach 11.90% up from the last financial year.

Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $267.74 million. 16 analysts are of the opinion that Planet Fitness Inc.’s revenue for the quarter ending Dec 2023 will be $275.03 million. The company’s revenue for the corresponding quarters a year ago was $234.59 million and $281.27 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 14.10%. The estimates for the next quarter sales put growth at -2.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -24.10%. The 2023 estimates are for Planet Fitness Inc. earnings to increase by 130.60%.

PLNT Dividends

Planet Fitness Inc. is expected to release its next quarterly earnings report in October.

Planet Fitness Inc. (NYSE:PLNT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.47% of Planet Fitness Inc. shares while 105.72% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 106.22%. There are 105.72% institutions holding the Planet Fitness Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 14.26% of the shares, roughly 12.06 million PLNT shares worth $813.15 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.44% or 7.98 million shares worth $538.41 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of May 30, 2023 were Blackrock Funds-Mid-Cap Growth Equity Portfolio and iShares Core S&P Midcap ETF. With 3.09 million shares estimated at $197.32 million under it, the former controlled 3.65% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.24% of the shares, roughly 2.74 million shares worth around $166.54 million.

On Key

Related Posts