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

Planet Fitness, Inc. (NYSE:PLNT) has earned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $69.55.

A number of research analysts recently weighed in on PLNT shares. Raymond James Financial reissued a “strong-buy” rating and issued a $62.00 target price on shares of Planet Fitness in a report on Friday, August 7th. Royal Bank Of Canada dropped their price objective on Planet Fitness from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. UBS Group restated a “buy” rating on shares of Planet Fitness in a report on Friday, October 9th. Zacks Research raised shares of Planet Fitness from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, KeyCorp reissued an “overweight” rating on shares of Planet Fitness in a research note on Tuesday, October 13th.

Insider Buying and Selling at Planet Fitness

In related news, Director Christopher Tanco bought 2,328 shares of the business’s stock in a transaction on Monday, September 14th. The shares were bought at an average price of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares of the company’s stock, valued at approximately $119,263.44. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Spinelli, Jr. acquired 10,000 shares of the business’s 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 transaction, the director owned 45,516 shares in the company, valued at approximately $2,243,028.48. The trade was a 28.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in shares of Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock worth $26,000 after buying an additional 366 shares during the period. Fortitude Family Office LLC purchased a new stake in Planet Fitness during the 3rd quarter valued at about $32,000. Mather Group LLC. increased its holdings in shares of Planet Fitness by 163.3% in the third quarter. Mather Group LLC. now owns 790 shares of the company’s stock valued at $33,000 after purchasing an additional 490 shares during the period. Root Financial Partners LLC acquired a new position in shares of Planet Fitness in the third quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Planet Fitness by 142.6% in the first quarter. EverSource Wealth Advisors LLC now owns 985 shares of the company’s stock worth $73,000 after purchasing an additional 579 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 0.5%

NYSE PLNT opened at $53.47 on Monday. The stock’s 50 day moving average is $48.77 and its 200 day moving average is $62.37. Planet Fitness has a 12 month low of $37.03 and a 12 month high of $114.26. The stock has a market cap of $4.04 billion, a PE ratio of 18.13, a P/E/G ratio of 1.15 and a beta of 1.05.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share (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 firm had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. During the same quarter last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter 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, analysts forecast that Planet Fitness will post 3.22 EPS for the current fiscal year.

About Planet Fitness

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.