Planet Fitness (NYSE:PLNT) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Planet Fitness (NYSE:PLNT) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on PLNT. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Planet Fitness from $115.00 to $98.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. UBS Group reissued a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of Planet Fitness in a research note on Tuesday, February 24th. Piper Sandler lowered Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday. Finally, Royal Bank Of Canada lowered their target price on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $120.58.

Planet Fitness Trading Up 1.3%

PLNT opened at $82.92 on Monday. The stock’s 50 day simple moving average is $95.98 and its 200-day simple moving average is $100.48. The stock has a market cap of $6.91 billion, a PE ratio of 31.65, a P/E/G ratio of 1.42 and a beta of 1.25. Planet Fitness has a 1 year low of $79.18 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $376.26 million during the quarter, compared to analysts’ expectations of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.Planet Fitness’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Equities analysts forecast that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently added to or reduced their stakes in PLNT. Coastline Complete Wealth LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at $2,815,000. Pacer Advisors Inc. grew its holdings in shares of Planet Fitness by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 13,073 shares of the company’s stock worth $1,418,000 after buying an additional 2,013 shares in the last quarter. Virtu Financial LLC acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $663,000. T. Rowe Price Investment Management Inc. lifted its stake in Planet Fitness by 1.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock valued at $1,001,848,000 after acquiring an additional 149,503 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Planet Fitness by 87.4% during the 4th quarter. Corient Private Wealth LLC now owns 9,347 shares of the company’s stock worth $1,014,000 after acquiring an additional 4,360 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.