Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.8056.

Several analysts recently issued reports on PLNT shares. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a report on Friday, May 8th. TD Cowen lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $50.00 in a report on Friday, May 8th. Wells Fargo & Company reduced their price objective on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Guggenheim reduced their price objective on shares of Planet Fitness from $126.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Planet Fitness Trading Up 2.0%

Shares of PLNT opened at $53.02 on Friday. The firm has a market cap of $4.21 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. Planet Fitness has a 12-month low of $37.03 and a 12-month high of $114.47. The company’s 50-day moving average price is $64.91 and its 200 day moving average price is $86.52.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Equities research analysts forecast that Planet Fitness will post 3.18 earnings per share for the current year.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke purchased 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $231,050. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Institutional Trading of Planet Fitness

A number of institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its stake in Planet Fitness by 1.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after purchasing an additional 149,503 shares during the period. SRS Investment Management LLC increased its stake in Planet Fitness by 4.5% during the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after purchasing an additional 212,145 shares during the period. Steadfast Capital Management LP increased its stake in Planet Fitness by 4.6% during the third quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock worth $196,077,000 after purchasing an additional 83,215 shares during the period. Geode Capital Management LLC increased its stake in Planet Fitness by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock worth $179,924,000 after purchasing an additional 26,575 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Planet Fitness by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after purchasing an additional 24,981 shares during the period. 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.