Planet Fitness Inc [NYSE: PLNT] stock went on a downward path that fall over -5.28% on Thursday, amounting to a one-week price decrease of less than -7.54%. The company report on February 22, 2024 at 9:35 AM that /C O R R E C T I O N — Planet Fitness, Inc./.
In the news release, Planet Fitness, Inc. Announces Fourth Quarter and Year-End 2023 Results, issued 22-Feb-2024 by Planet Fitness, Inc. over PR Newswire, we are advised by the company that the second bullet in the 2024 Outlook section should read “System-wide same store sales in the 5% to 6% percentage range” rather than “System-wide same store sales in the high single-digit percentage range” as originally issued inadvertently. The complete, corrected release follows:.
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Over the last 12 months, PLNT stock dropped by -18.17%. The one-year Planet Fitness Inc stock forecast points to a potential upside of 20.09. The average equity rating for PLNT stock is currently 1.65, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.33 billion, with 85.44 million shares outstanding and 84.78 million shares in the current float. Compared to the average trading volume of 1.24M shares, PLNT stock reached a trading volume of 4044461 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $78.06 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 1.65. 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.
Exane BNP Paribas have made an estimate for Planet Fitness Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 16, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on September 27, 2023, representing the official price target for Planet Fitness Inc stock. Previously, the target price had yet another drop from $70 to $52, while JP Morgan kept a Neutral rating on PLNT stock. On September 18, 2023, analysts decreased their price target for PLNT shares from 90 to 56.
The Average True Range (ATR) for Planet Fitness Inc is set at 1.84, with the Price to Sales ratio for PLNT stock in the period of the last 12 months amounting to 4.99. Price to Free Cash Flow for PLNT in the course of the last twelve months was 27.03 with Quick ratio for the last quarter at 1.95.
PLNT Stock Performance Analysis:
Planet Fitness Inc [PLNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.54. With this latest performance, PLNT shares dropped by -14.93% in over the last four-week period, additionally plugging by 4.66% over the last 6 months – not to mention a drop of -18.17% 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 26.57, with the RSI for the last a single of trading hit 20.14, and the three-weeks RSI is set at 32.42 for Planet Fitness Inc [PLNT]. The present Moving Average for the last 50 days of trading for this stock 70.72, while it was recorded at 65.57 for the last single week of trading, and 63.97 for the last 200 days.
Insight into Planet Fitness Inc Fundamentals:
Planet Fitness Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.95 and a Current Ratio set at 1.98.
PLNT Stock EPS
With the latest financial reports released by the company, Planet Fitness Inc posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.80%. 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.
Planet Fitness Inc [PLNT] Institutonal Ownership Details
The top three institutional holders of PLNT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PLNT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PLNT stock with ownership which is approximately 5.8325%.
