Planet Fitness (NYSE:PLNT) Stock Price Up 4.2% – Should You Buy?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price rose 4.2% during mid-day trading on Friday. The stock traded as high as $51.80 and last traded at $51.5080. 583,283 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,149,377 shares. The stock had previously closed at $49.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday, October 9th. Morgan Stanley raised their target price on shares of Planet Fitness from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Wells Fargo & Company restated an “overweight” rating on shares of Planet Fitness in a research report on Monday, July 20th. Zacks Research raised shares of Planet Fitness from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Planet Fitness in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $69.34.

Planet Fitness Stock Up 3.4%

The company has a 50 day moving average of $48.34 and a two-hundred day moving average of $54.22. The firm has a market cap of $3.86 billion, a P/E ratio of 17.32, a PEG ratio of 1.01 and a beta of 1.05.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, topping 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 period in the previous year, the business earned $0.86 earnings per share. Planet Fitness’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. Research analysts expect that Planet Fitness, Inc. will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Planet Fitness news, Director Christopher Tanco bought 2,328 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $51.23 per share, with a total value of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares in the company, valued at approximately $119,263.44. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Spinelli, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares of the company’s stock, valued at approximately $2,243,028.48. The trade was a 28.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in Planet Fitness by 28.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,626 shares of the company’s stock worth $827,000 after purchasing an additional 4,342 shares in the last quarter. Mather Group LLC. boosted 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 worth $33,000 after buying an additional 490 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Planet Fitness in the third quarter worth about $32,000. Krilogy Financial LLC purchased a new position in shares of Planet Fitness in the third quarter worth approximately $390,000. Finally, NorthCrest Asset Manangement LLC purchased a new position in shares of Planet Fitness in the third quarter worth approximately $343,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.