Planet Fitness, Inc. (NYSE:PLNT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $69.34.

PLNT has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $62.00 target price on shares of Planet Fitness in a report on Friday, August 7th. Royal Bank Of Canada dropped their price target on Planet Fitness from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday. Robert W. Baird reduced their price objective on Planet Fitness from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Planet Fitness in a research note on Monday, September 14th.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $42.09 on Thursday. The firm has a market cap of $3.18 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.91 and a beta of 1.05. The firm’s 50-day simple moving average is $49.83 and its 200-day simple moving average is $55.85. Planet Fitness has a 1 year low of $37.03 and a 1 year high of $114.26.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $365.22 million during the quarter, compared to the consensus estimate of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, equities analysts predict that Planet Fitness will post 3.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen Spinelli, Jr. acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the purchase, the director directly owned 45,516 shares in the company, valued at $2,243,028.48. This represents a 28.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO William Bode sold 7,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total transaction of $358,540.00. Following the transaction, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at approximately $1,687,135.58. This trade represents a 17.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

Institutional Trading of Planet Fitness

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Planet Fitness by 143.7% in the 3rd quarter. Versant Capital Management Inc now owns 1,204 shares of the company’s stock valued at $51,000 after purchasing an additional 710 shares during the last quarter. Tidal Investments LLC grew its position in Planet Fitness by 19.6% in the 2nd quarter. Tidal Investments LLC now owns 60,136 shares of the company’s stock worth $3,137,000 after purchasing an additional 9,848 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $590,000. Engineers Gate Manager LP acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $1,859,000. Finally, Allworth Financial LP raised its holdings in shares of Planet Fitness by 15.5% during the second quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock valued at $89,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.