Heritage Oak Wealth Advisors LLC Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Heritage Oak Wealth Advisors LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,350 shares of the company’s stock, valued at approximately $2,704,000. Planet Fitness makes up 1.3% of Heritage Oak Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $51,000. Oppenheimer Asset Management Inc. boosted its holdings in Planet Fitness by 11.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 6,546 shares of the company’s stock valued at $647,000 after acquiring an additional 649 shares during the period. Walter Public Investments Inc. grew its position in Planet Fitness by 0.6% during the 4th quarter. Walter Public Investments Inc. now owns 163,673 shares of the company’s stock worth $16,182,000 after acquiring an additional 964 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Planet Fitness in the 4th quarter worth approximately $227,000. Finally, Fortis Group Advisors LLC bought a new stake in Planet Fitness in the fourth quarter valued at approximately $316,000. 95.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLNT. DA Davidson restated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Monday. Robert W. Baird increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus lifted their price objective on Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Macquarie reissued a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.38.

Planet Fitness Trading Up 0.4 %

Shares of PLNT opened at $90.52 on Thursday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00. The firm has a fifty day simple moving average of $102.44 and a two-hundred day simple moving average of $92.24. The firm has a market cap of $7.66 billion, a PE ratio of 48.67, a P/E/G ratio of 2.45 and a beta of 1.53.

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

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.