Planet Fitness (NYSE:PLNT) Reaches New 1-Year Low – What’s Next?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price reached a new 52-week low on Monday . The company traded as low as $70.32 and last traded at $72.9150, with a volume of 1278275 shares changing hands. The stock had previously closed at $73.29.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLNT shares. Zacks Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Planet Fitness in a report on Tuesday, February 24th. Wells Fargo & Company assumed coverage on Planet Fitness in a research report on Wednesday, March 11th. They set an “overweight” rating and a $90.00 target price on the stock. KeyCorp began coverage on Planet Fitness in a research note on Thursday, March 12th. They set an “overweight” rating and a $100.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.46.

Planet Fitness Stock Down 0.7%

The stock’s fifty day simple moving average is $83.06 and its 200-day simple moving average is $95.85. The company has a market capitalization of $5.82 billion, a PE ratio of 27.89, a PEG ratio of 1.27 and a beta of 1.31.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $376.26 million for 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%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently made changes to their positions in PLNT. Citigroup Inc. increased its stake in shares of Planet Fitness by 101.0% during the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after purchasing an additional 14,805 shares in the last quarter. Federated Hermes Inc. lifted its stake in Planet Fitness by 21.0% in the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after buying an additional 130,687 shares in the last quarter. Pelham Capital Ltd. acquired a new stake in Planet Fitness during the 3rd quarter valued at $12,841,000. Triodos Investment Management BV grew its holdings in Planet Fitness by 16.0% during the 3rd quarter. Triodos Investment Management BV now owns 297,000 shares of the company’s stock valued at $30,829,000 after buying an additional 41,000 shares during the last quarter. Finally, Impax Asset Management Group plc increased its position in Planet Fitness by 22.0% during the third quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock worth $20,165,000 after buying an additional 35,000 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.