Planet Fitness, Inc. (NYSE:PLNT) Stock Has Consensus Target Price of $70.24 According to Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned 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 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 analysts that have updated their coverage on the stock in the last year is $70.24.

PLNT has been the subject of several analyst reports. Zacks Research raised shares of Planet Fitness from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Jefferies Financial Group set a $106.00 price objective on shares of Planet Fitness in a research note on Thursday, August 6th. Raymond James Financial reissued a “strong-buy” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Friday, August 7th. Canaccord Genuity Group lifted their price target on shares of Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald set a $62.00 target price on Planet Fitness in a research report on Thursday, July 9th.

Insider Activity at Planet Fitness

In other news, Director Christopher Tanco bought 2,328 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $51.23 per share, with a total value of $119,263.44. Following the transaction, the director directly owned 2,328 shares in the company, valued at approximately $119,263.44. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO William Bode sold 7,000 shares of Planet Fitness stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $51.22, for a total value of $358,540.00. Following the sale, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at approximately $1,687,135.58. This represents a 17.53% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently bought and sold shares of PLNT. Versant Capital Management Inc increased its holdings in Planet Fitness by 143.7% in the 3rd quarter. Versant Capital Management Inc now owns 1,204 shares of the company’s stock worth $51,000 after buying an additional 710 shares during the period. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 19.6% in the 2nd quarter. Tidal Investments LLC now owns 60,136 shares of the company’s stock valued at $3,137,000 after purchasing an additional 9,848 shares during the period. WINTON GROUP Ltd purchased a new stake in Planet Fitness during the second quarter worth $590,000. Engineers Gate Manager LP purchased a new stake in Planet Fitness during the second quarter worth $1,859,000. Finally, Allworth Financial LP grew its position in 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 period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $42.47 on Thursday. Planet Fitness has a 1 year low of $37.03 and a 1 year high of $114.26. The firm’s 50-day moving average is $50.08 and its two-hundred day moving average is $56.21. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.91 and a beta of 1.05.

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

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.