Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Buy” by Analysts

Planet Fitness, Inc. (NYSE:PLNT) has been given an average recommendation of “Buy” by the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $122.2727.

Several equities research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Macquarie reduced their target price on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday. Stifel Nicolaus increased their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Morgan Stanley boosted their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $135.00 target price on shares of Planet Fitness in a research note on Tuesday, December 9th.

Planet Fitness Price Performance

Shares of PLNT opened at $90.99 on Friday. The company has a 50-day simple moving average of $105.23 and a two-hundred day simple moving average of $103.71. The firm has a market capitalization of $7.58 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Planet Fitness has a one year low of $87.72 and a one year high of $114.47.

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

Institutional Investors Weigh In On Planet Fitness

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Planet Fitness during the second quarter valued at $116,175,000. Ninety One UK Ltd grew its position in Planet Fitness by 35.7% during the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock valued at $314,490,000 after purchasing an additional 759,227 shares during the last quarter. Junto Capital Management LP bought a new stake in Planet Fitness during the 3rd quarter valued at about $73,603,000. Squarepoint Ops LLC raised its holdings in Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after buying an additional 514,876 shares during the last quarter. Finally, AustralianSuper Pty Ltd bought a new position in shares of Planet Fitness in the second quarter worth approximately $41,428,000. 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.