Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessPlanet Fitness Receives Price Target from D.A. Davidson

Planet Fitness Receives Price Target from D.A. Davidson

Add to Favorite
Added to Favorite


Linda Bolton Weiser of D.A. Davidson sets a price target of $62 for Planet Fitness , indicating a potential downside.
Planet Fitness announces a $280 million accelerated share repurchase agreement, showcasing its commitment to shareholder value.
The company’s stock performance and strategic financial management highlight its resilience and growth prospects in the competitive fitness industry.

Linda Bolton Weiser of D.A. Davidson set a price target of $62 for Planet Fitness (NYSE:PLNT) on June 13, 2024, suggesting a potential downside of approximately 14.48% from its trading price at that time of $72.5. This valuation reflects a cautious outlook on the company’s future stock performance, as detailed in the report “DA Davidson Reiterates Neutral Rating on Planet Fitness (PLNT),” published by StreetInsider. Planet Fitness, headquartered in Hampton, New Hampshire, is a prominent player in the fitness industry, known for its low-cost membership model and widespread gym locations.
The company’s strategic financial management is evident in its recent announcement of entering into a $280 million accelerated share repurchase agreement (ASR Agreement) with Citibank, N.A. This move is part of a broader $500 million share repurchase authorization revealed on November 8, 2022, demonstrating Planet Fitness’s commitment to enhancing shareholder value. By the time of this announcement, the company had about $355 million remaining under its 2022 Share Repurchase Program, indicating a proactive approach to capital allocation.
Under the ASR Agreement, Planet Fitness will pay Citibank $280 million in cash, receiving approximately 3.1 million shares of its Class A common stock in return. This initial share count represents about 80% of the total shares the company expects to repurchase under this agreement. Such a significant buyback plan underscores the company’s confidence in its long-term growth prospects and its dedication to returning value to its shareholders.
The stock’s performance, with a slight increase to $72.5, reflects a stable market position, supported by a trading volume of 1,810,854 shares. The company’s market capitalization of approximately $6.35 billion, along with its stock fluctuating between a low of $44.13 and a high of $75.86 over the past year, showcases its resilience and potential for growth in the competitive fitness industry. This financial maneuvering and stock performance provide a broader context to Weiser’s price target, highlighting the intricate balance between investor expectations and the company’s strategic initiatives to bolster shareholder value.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Watch Samsung to launch wearable product, smart ring called Galaxy Ring, web fans are excited

Samsung (SSNLF) will soon launch its first-of-its-kind wearable product,...

Bad news for inflation: Wholesale prices rose in June

The cost of goods—including gas, electronics, and appliances—dropped by...

Benchmark Reiterates Buy Rating on JD.com, Adjusts Q2 Revenue Growth Projection

Benchmark analysts reaffirmed their Buy rating and set a...

Truist Securities Reiterates Buy Rating on Five9 Amid Activist Investor Push for Sale

Truist Securities analysts reaffirmed their Buy rating and set...