JPMorgan Chase & Co. Cuts Planet Fitness (NYSE:PLNT) Price Target to $105.00

Planet Fitness (NYSE:PLNT) had its price objective decreased by JPMorgan Chase & Co. from $120.00 to $105.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PLNT has been the topic of a number of other reports. Stifel Nicolaus set a $105.00 target price on Planet Fitness in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Macquarie Infrastructure decreased their price target on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.64.

Planet Fitness Trading Down 1.7%

Shares of Planet Fitness stock opened at $82.34 on Wednesday. The company’s 50-day moving average price is $97.15 and its 200-day moving average price is $100.89. Planet Fitness has a 12-month low of $79.18 and a 12-month high of $114.47. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.34 and a beta of 1.26.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $376.26 million during the quarter, compared to the consensus estimate of $366.48 million. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, sell-side analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after acquiring an additional 24,981 shares during the period. Empowered Funds LLC bought a new stake in Planet Fitness in the first quarter valued at approximately $1,891,000. AlphaQuest LLC boosted its stake in shares of Planet Fitness by 123.3% during the second quarter. AlphaQuest LLC now owns 5,296 shares of the company’s stock valued at $578,000 after purchasing an additional 2,924 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Planet Fitness in the second quarter worth approximately $883,000. Finally, Emerald Advisers LLC boosted its position in Planet Fitness by 1.9% during the 2nd quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock valued at $608,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.