Fitness Equipment

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $98.91.

Several research firms have commented on PLNT. Piper Sandler cut their price target on Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. Evercore ISI began coverage on Planet Fitness in a report on Monday, March 14th. They issued an “outperform” rating and a $130.00 price target for the company. DA Davidson cut their price target on Planet Fitness from $110.00 to $90.00 in a report on Friday, May 13th. Robert W. Baird cut

Lindbrook Cash LLC lowered its place in shares of World Physical fitness, Inc. (NYSE:PLNT – Get Rating) by 48.% in the initially quarter, Holdings Channel studies. The fund owned 1,262 shares of the company’s inventory right after marketing 1,163 shares for the duration of the quarter. Lindbrook Money LLC’s holdings in World Health were well worth $107,000 at the conclusion of the most the latest reporting time period.

Various other hedge money and other institutional traders have also not too long ago bought and sold shares of PLNT. Moors & Cabot Inc. acquired a new stake in Earth Fitness in the third quarter worth $26,000. Lazard Asset Administration LLC purchased a new stake in Earth Exercise in the fourth quarter well worth $33,000. Global Retirement Companions LLC lifted its place in Planet Physical fitness by 29.7% in the fourth quarter. World wide Retirement Companions LLC now owns 563

Planet Fitness, Inc. PLNT reported first-quarter 2022 results, wherein earnings beat the Zacks Consensus Estimate, but revenues missed the same. However, bot the metrics improved on a year-over-year basis. The company benefited from increased membership levels and positive system-wide same store sales growth.

Chris Rondeau, the CEO of Planet Fitness, stated, “During the first quarter we completed the acquisition of Sunshine Fitness, one of our best-performing franchisees as well as a successful refinancing of a portion of our debt. We are bullish on the future and believe that the acquisition strengthens our powerful business model by enhancing our corporate store team and diversifying the geographic profile of our corporate-owned stores, and the refinancing further supports our business model, by locking in low rates on a significant portion our debt.”

Earnings & Revenue Discussion

During the first quarter, the company reported adjusted earnings per share (EPS) of 32 cents, surpassing the

Wall Street analysts expect that Planet Fitness, Inc. (NYSE:PLNT – Get Rating) will announce $229.90 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Planet Fitness’ earnings. The highest sales estimate is $242.27 million and the lowest is $219.50 million. Planet Fitness reported sales of $137.25 million in the same quarter last year, which indicates a positive year-over-year growth rate of 67.5%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Planet Fitness will report full year sales of $913.44 million for the current financial year, with estimates ranging from $897.00 million to $920.70 million. For the next financial year, analysts expect that the company will report sales of $1.09 billion, with estimates ranging from $1.05 billion to $1.16 billion. Zacks’ sales averages are a mean average