Planet Fitness, Inc. (NYSE:PLNT) Receives $119.92 Average Price Target from Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $119.9231.

PLNT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Cowen reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, November 14th. Guggenheim raised Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday.

Planet Fitness Trading Down 0.6%

Shares of Planet Fitness stock opened at $108.51 on Tuesday. Planet Fitness has a 1 year low of $87.72 and a 1 year high of $114.47. The company’s fifty day simple moving average is $105.61 and its 200-day simple moving average is $104.94. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 2.42 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same period in the prior year, the firm earned $0.64 EPS. The business’s revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, research analysts forecast that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cibc World Market Inc. increased its stake in Planet Fitness by 1.2% in the third quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock valued at $893,000 after acquiring an additional 98 shares during the period. State of Michigan Retirement System boosted its holdings in Planet Fitness by 0.5% during the second quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock valued at $2,203,000 after purchasing an additional 100 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Planet Fitness by 1.9% in the 2nd quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock valued at $608,000 after purchasing an additional 104 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Planet Fitness by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company’s stock valued at $2,764,000 after purchasing an additional 123 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Planet Fitness by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock worth $405,000 after buying an additional 132 shares in the last quarter. 95.53% of the stock is owned by 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.