Planet Fitness (NYSE:PLNT) Downgraded to “Strong Sell” Rating by Zacks Research

Planet Fitness (NYSE:PLNT) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group reissued a “buy” rating and set a $175.00 price target on shares of Planet Fitness in a research report on Tuesday, February 24th. Morgan Stanley reduced their target price on Planet Fitness from $128.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Macquarie Infrastructure decreased their price target on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.58.

Planet Fitness Stock Performance

NYSE:PLNT opened at $82.92 on Monday. Planet Fitness has a 52 week low of $79.18 and a 52 week high of $114.47. The firm’s 50-day simple moving average is $95.98 and its 200 day simple moving average is $100.48. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.42 and a beta of 1.25.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inceptionr LLC bought a new position in Planet Fitness in the 2nd quarter valued at approximately $356,000. ABN AMRO Bank N.V. acquired a new position in shares of Planet Fitness during the second quarter worth $13,214,000. Federated Hermes Inc. lifted its stake in shares of Planet Fitness by 21.0% in the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after acquiring an additional 130,687 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new position in shares of Planet Fitness in the 2nd quarter valued at $2,633,000. Finally, Impax Asset Management Group plc boosted its holdings in shares of Planet Fitness by 22.0% during the 3rd quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock valued at $20,165,000 after acquiring an additional 35,000 shares in the last quarter. 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.