Monday, September 21, 2020

Planet Fitness Inc. [PLNT] Revenue clocked in at $525.80 million, down -18.04% YTD: What’s Next?

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Planet Fitness Inc. [NYSE: PLNT] closed the trading session at $61.21 on 09/03/20. The day’s price range saw the stock hit a low of $60.63, while the highest price level was $63.98. The company report on August 4, 2020 that Planet Fitness, Inc. Announces Second Quarter 2020 Results.

Today, Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its second quarter ended June 30, 2020 .

“I am proud of how the entire Planet Fitness system is managing through this challenging time, especially the passion and commitment to take care of our members demonstrated by our store team members, headquarters employees and franchisees,” said Chris Rondeau , Chief Executive Officer. “Following the temporary closure of all Planet Fitness stores in mid-March in response to the pandemic, 1,477 of our stores are reopened and operating to-date. This has been achieved through the execution of our expansive COVID-19 re-opening playbook designed to provide a safe and healthy in-store environment and strictly adhering to the guidelines laid out by state and local governments and health authorities. It continues to be a very fluid situation, with a number of states experiencing a spike in new cases as the third quarter got underway, which has resulted in certain stores re-closing pursuant to local mandates. We recently took additional steps to protect our members and staff by requiring everyone to wear a mask inside our stores except while actively working out, and we’ll continue to proceed cautiously until there is greater certainty on when conditions will return to normal. While the near-term operating environment is likely to remain volatile and negatively affect our near-term revenue and profitability, I am confident that Planet Fitness is well positioned to capitalize on the industry consolidation that we believe will emerge over the next several years and increased focus on health & wellness.”.

The stocks have a year to date performance of -18.04 percent and weekly performance of 0.41 percent. The stock has been moved at -4.88 percent over the last six months. The stock has performed 22.49 percent around the most recent 30 days and changed -18.55 percent over the most recent 3-months.

If compared to the average trading volume of 1.95M shares, PLNT reached to a volume of 1223425 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Planet Fitness Inc. [PLNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLNT shares is $75.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLNT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Planet Fitness Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 04, 2020. While these analysts kept the previous recommendation, DA Davidson raised their target price from $70 to $86. The new note on the price target was released on June 03, 2020, representing the official price target for Planet Fitness Inc. stock. Previously, the target price had yet another raise to $58, while ROTH Capital analysts kept a Neutral rating on PLNT stock.

The Average True Range (ATR) for Planet Fitness Inc. is set at 2.52, with the Price to Sales ratio for PLNT stock in the period of the last 12 months amounting to 9.64. Price to Free Cash Flow for PLNT in the course of the last twelve months was 104.08 with Quick ratio for the last quarter at 4.30.

PLNT stock trade performance evaluation

Planet Fitness Inc. [PLNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.41. With this latest performance, PLNT shares gained by 22.49% in over the last four-week period, additionally sinking by -4.88% over the last 6 months – not to mention a drop of -6.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLNT stock in for the last two-week period is set at 59.41, with the RSI for the last a single of trading hit 61.10, and the three-weeks RSI is set at 55.78 for Planet Fitness Inc. [PLNT]. The present Moving Average for the last 50 days of trading for this stock 57.08, while it was recorded at 61.72 for the last single week of trading, and 64.24 for the last 200 days.

Planet Fitness Inc. [PLNT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Planet Fitness Inc. [PLNT] shares currently have an operating margin of +33.84 and a Gross Margin at +45.55. Planet Fitness Inc.’s Net Margin is presently recorded at +17.09.

Return on Total Capital for PLNT is now 23.83, given the latest momentum, and Return on Invested Capital for the company is 12.26. Additionally, PLNT Total Debt to Total Capital is recorded at 160.46, with Total Debt to Total Assets ending up at 109.19.

Reflecting on the efficiency of the workforce at the company, Planet Fitness Inc. [PLNT] managed to generate an average of $67,836 per employee. Receivables Turnover for the company is 12.44 with a Total Asset Turnover recorded at a value of 0.45.Planet Fitness Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.30 and a Current Ratio set at 4.30.

Earnings per share (EPS) analysis for Planet Fitness Inc. [PLNT] stock

With the latest financial reports released by the company, Planet Fitness Inc. posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLNT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Planet Fitness Inc. go to 7.90%.

Planet Fitness Inc. [PLNT]: Insider Ownership positions

There are presently around $5,424 million, in the hands of institutional investors. The top three institutional holders of PLNT stocks are: VANGUARD GROUP INC with ownership of 8,139,180, which is approximately -5.316% of the company’s market cap and around 0.10% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 8,060,267 shares of the stock with an approximate value of $493.37 million in PLNT stocks shares; and BLACKROCK INC., currently with $326.49 million in PLNT stock with ownership of nearly 0.199% of the company’s market capitalization.

Positions in Planet Fitness Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 156 institutional holders increased their position in Planet Fitness Inc. [NYSE:PLNT] by around 22,423,872 shares. Additionally, 178 investors decreased positions by around 20,432,904 shares, while 27 investors held positions by with 45,760,956 shares. The mentioned changes placed institutional holdings at 88,617,732 shares, according to the latest SEC report filing. PLNT stock had 64 new institutional investments in for a total of 7,571,736 shares, while 61 institutional investors sold positions of 4,948,641 shares during the same period.

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