Zions Bancorporation N.A. Buys 4,040 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Zions Bancorporation N.A. raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,266 shares of the company’s stock after acquiring an additional 4,040 shares during the quarter. Zions Bancorporation N.A.’s holdings in Planet Fitness were worth $2,300,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLNT. Corient Private Wealth LLC lifted its holdings in Planet Fitness by 2.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock valued at $457,000 after purchasing an additional 94 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after buying an additional 124 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after acquiring an additional 135 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares in the last quarter. Finally, Truist Financial Corp grew its position in Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $99.83 on Wednesday. The stock has a market cap of $8.45 billion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The stock has a 50-day moving average of $100.89 and a 200-day moving average of $94.45. Planet Fitness, Inc. has a one year low of $57.64 and a one year high of $110.00.

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

Analysts Set New Price Targets

PLNT has been the topic of a number of recent analyst reports. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Guggenheim reissued a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a report on Thursday, February 27th. Roth Mkm restated a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Macquarie reduced their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Company 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.