Planet Fitness, Inc. (NYSE:PLNT) Stock Has Consensus Price Target of $69.34 According to Brokerages

Planet Fitness, Inc. (NYSE:PLNT) has earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $69.55.

PLNT has been the topic of a number of recent research reports. Cantor Fitzgerald set a $62.00 target price on shares of Planet Fitness in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $55.00 target price on shares of Planet Fitness in a report on Wednesday, July 22nd. Jefferies Financial Group set a $106.00 price target on Planet Fitness in a research report on Thursday, August 6th. Morgan Stanley boosted their price target on Planet Fitness from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Canaccord Genuity Group upped their price target on Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 20th.

Insider Buying and Selling at Planet Fitness

In related news, Director Stephen Spinelli, Jr. purchased 10,000 shares of Planet Fitness stock in a transaction dated 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 completion of the acquisition, the director directly owned 45,516 shares of the company’s stock, valued at $2,243,028.48. The trade was a 28.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher Tanco purchased 2,328 shares of the stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $51.23 per share, with a total value of $119,263.44. Following the transaction, the director owned 2,328 shares in the company, valued at $119,263.44. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLNT. Engineers Gate Manager LP bought a new position in Planet Fitness in the second quarter worth approximately $1,859,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Planet Fitness in the 2nd quarter worth $1,523,000. Osborne Partners Capital Management LLC raised its stake in shares of Planet Fitness by 110.6% in the first quarter. Osborne Partners Capital Management LLC now owns 152,197 shares of the company’s stock worth $11,320,000 after buying an additional 79,915 shares during the period. WCM Investment Management LLC raised its stake in shares of Planet Fitness by 58.3% in the first quarter. WCM Investment Management LLC now owns 265,134 shares of the company’s stock worth $19,548,000 after buying an additional 97,697 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Planet Fitness in the second quarter worth about $44,399,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $52.55 on Monday. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.26. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.13 and a beta of 1.05. The company’s 50 day moving average price is $48.77 and its 200-day moving average price is $62.87.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. The company 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 firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, equities research analysts forecast that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.