Morgan Stanley cut shares of Planet Fitness (NYSE:PLNT – Free Report) from an overweight rating to an equal weight rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. Morgan Stanley currently has $47.00 price objective on the stock.
PLNT has been the subject of a number of other research reports. Bank of America reissued a “neutral” rating and issued a $59.00 target price (down from $110.00) on shares of Planet Fitness in a report on Friday. Stifel Nicolaus reduced their target price on Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Canaccord Genuity Group dropped their price target on Planet Fitness from $128.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, KGI Securities downgraded Planet Fitness to a “neutral” rating and set a $50.50 price target on the stock. in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.32.
Check Out Our Latest Report on Planet Fitness
Planet Fitness Trading Up 4.3%
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities research analysts forecast that Planet Fitness will post 3.19 EPS for the current fiscal year.
Institutional Trading of Planet Fitness
Hedge funds have recently bought and sold shares of the stock. Citigroup Inc. grew its holdings in Planet Fitness by 101.0% during the third quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock valued at $3,058,000 after purchasing an additional 14,805 shares during the period. Federated Hermes Inc. grew its holdings in Planet Fitness by 21.0% during the third quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after purchasing an additional 130,687 shares during the period. Pelham Capital Ltd. bought a new stake in Planet Fitness during the third quarter valued at about $12,841,000. Burney Co. bought a new stake in Planet Fitness during the fourth quarter valued at about $2,221,000. Finally, Impax Asset Management Group plc grew its holdings 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 valued at $20,165,000 after purchasing an additional 35,000 shares during the period. Institutional investors own 95.53% of the company’s stock.
Key Planet Fitness News
Here are the key news stories impacting Planet Fitness this week:
- Positive Sentiment: Planet Fitness beat first-quarter expectations, reporting adjusted EPS of $0.74 versus the $0.63 estimate and revenue of $337.24 million versus $298.60 million expected, with revenue up 21.9% year over year. Planet Fitness, Inc. Announces First Quarter 2026 Results
- Positive Sentiment: The company ended the quarter with about 21.5 million members and same-club sales rose 3.5%, showing the business is still growing despite the weak sentiment. Planet Fitness, Inc. Announces First Quarter 2026 Results
- Neutral Sentiment: Several firms still see upside, including Guggenheim, Deutsche Bank, and BofA, but they all cut price targets sharply, signaling analysts are reassessing valuation rather than turning fully bearish. Analyst price target updates
- Negative Sentiment: Planet Fitness lowered its full-year 2026 guidance to EPS of $3.19, below Wall Street expectations, and said it is delaying planned price increases, raising concerns about future profitability. Planet Fitness Slashes 2026 Views After Weak Signups
- Negative Sentiment: Management blamed slower sign-ups and “internal and external headwinds,” which suggests the strong quarter did not translate into confidence about the rest of the year. Planet Fitness stock plunges 30% after company slashes guidance, cancels planned price hikes
- Negative Sentiment: Analyst actions were broadly negative, including downgrades from Morgan Stanley and William Blair, and sharp target cuts from Deutsche Bank, Guggenheim, and BofA Securities, adding pressure on the shares. Analyst downgrade coverage
- Negative Sentiment: There are also new securities-fraud investigations and shareholder-loss solicitations, which can further weigh on investor confidence. Shareholder Alert: Ademi LLP Investigates Claims of Securities Fraud against Planet Fitness, Inc.
About Planet Fitness
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.
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