JPMorgan Chase & Co. Increases Planet Fitness (NYSE:PLNT) Price Target to $62.00

Planet Fitness (NYSE:PLNT) had its price objective increased by research analysts at JPMorgan Chase & Co. from $60.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.68% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Roth Capital cut their price objective on Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Morgan Stanley lowered Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price on the stock. in a report on Friday, May 8th. KGI Securities cut Planet Fitness to a “neutral” rating and set a $50.50 price target on the stock. in a research note on Friday, May 8th. William Blair downgraded Planet Fitness from an “outperform” rating to a “market perform” rating in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.42.

Planet Fitness Stock Performance

Shares of PLNT opened at $51.81 on Thursday. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.47. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.14 and a beta of 1.04. The stock has a fifty day moving average price of $52.77 and a two-hundred day moving average price of $75.03.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The business had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts predict that Planet Fitness will post 3.18 EPS for the current fiscal year.

Insider Transactions at Planet Fitness

In other news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $231,050. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Planet Fitness

A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after buying an additional 24,981 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Planet Fitness during the first quarter worth $1,891,000. EverSource Wealth Advisors LLC boosted its position in shares of Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after acquiring an additional 214 shares during the period. First Trust Advisors LP boosted its position in shares of Planet Fitness by 25.8% in the second quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock valued at $15,560,000 after acquiring an additional 29,305 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Planet Fitness in the second quarter valued at about $267,000. Institutional investors own 95.53% of the company’s stock.

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.