Planet Fitness Inc. [NYSE: PLNT] loss -0.13% or -0.11 points to close at $83.69 with a heavy trading volume of 737836 shares. The company report on January 9, 2023 that Planet Fitness Announces Key Year-End Metrics.
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Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced today that as of December 31, 2022, it had approximately 17.0 million members, an increase of 1.8 million members since the end of 2021. Additionally, in 2022, it placed equipment in 154 new franchised locations and opened 158 new Planet Fitness stores including 14 corporate-owned locations, bringing system-wide total stores to 2,410.
It opened the trading session at $83.50, the shares rose to $85.25 and dropped to $83.50, the range by which the price of stock traded the whole day. The daily chart for PLNT points out that the company has recorded 11.56% gains over the past six months. However, it is still -54.55% lower than its most recent low trading price.
If we look at the average trading volume of 877.51K shares, PLNT reached to a volume of 737836 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $91.88 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 1.60. 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.
Piper Sandler have made an estimate for Planet Fitness Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 25, 2022. The new note on the price target was released on September 26, 2022, representing the official price target for Planet Fitness Inc. stock. Previously, the target price had yet another raise to $75, while Exane BNP Paribas analysts kept a Neutral rating on PLNT stock.
The Average True Range (ATR) for Planet Fitness Inc. is set at 2.24, with the Price to Sales ratio for PLNT stock in the period of the last 12 months amounting to 8.94. Price to Free Cash Flow for PLNT in the course of the last twelve months was 52.56 with Quick ratio for the last quarter at 2.10.
Trading performance analysis for PLNT stock
Planet Fitness Inc. [PLNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.85. With this latest performance, PLNT shares gained by 8.29% in over the last four-week period, additionally plugging by 11.56% over the last 6 months – not to mention a drop of -9.64% 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 69.08, with the RSI for the last a single of trading hit 73.38, and the three-weeks RSI is set at 66.14 for Planet Fitness Inc. [PLNT]. The present Moving Average for the last 50 days of trading for this stock 75.72, while it was recorded at 83.42 for the last single week of trading, and 72.44 for the last 200 days.
Planet Fitness Inc. [PLNT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Planet Fitness Inc. [PLNT] shares currently have an operating margin of +24.65 and a Gross Margin at +43.11. Planet Fitness Inc.’s Net Margin is presently recorded at +7.29.
Planet Fitness Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
An analysis of insider ownership at Planet Fitness Inc. [PLNT]
There are presently around $7,100 million, in the hands of institutional investors. The top three institutional holders of PLNT stocks are: BLACKROCK INC. with ownership of 8,723,313, which is approximately 0.934% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 7,516,351 shares of the stock with an approximate value of $629.04 million in PLNT stocks shares; and SRS INVESTMENT MANAGEMENT, LLC, currently with $582.22 million in PLNT stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Planet Fitness Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 151 institutional holders increased their position in Planet Fitness Inc. [NYSE:PLNT] by around 6,719,607 shares. Additionally, 155 investors decreased positions by around 8,533,773 shares, while 48 investors held positions by with 69,582,111 shares. The mentioned changes placed institutional holdings at 84,835,491 shares, according to the latest SEC report filing. PLNT stock had 51 new institutional investments in for a total of 1,589,876 shares, while 43 institutional investors sold positions of 1,551,959 shares during the same period.