Planet Fitness (PLNT) – Research Analysts’ Recent Ratings Updates

Planet Fitness (NYSE: PLNT) has recently received a number of price target changes and ratings updates:

• 11/8/2024 – Planet Fitness had its price target raised by analysts at Raymond James from $92.00 to $110.00. They now have a “strong-buy” rating on the stock.
• 11/8/2024 – Planet Fitness had its price target raised by analysts at JPMorgan Chase & Co. from $80.00 to $90.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – Planet Fitness had its price target raised by analysts at Royal Bank of Canada from $87.00 to $110.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Planet Fitness had its price target raised by analysts at Robert W. Baird from $92.00 to $110.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Planet Fitness had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $99.00 price target on the stock, up previously from $91.00.
• 10/29/2024 – Planet Fitness had its price target raised by analysts at Morgan Stanley from $84.00 to $89.00. They now have an “overweight” rating on the stock.
• 10/16/2024 – Planet Fitness had its price target raised by analysts at Stifel Nicolaus from $70.00 to $75.00. They now have a “hold” rating on the stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $101.56 on Wednesday. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.20. The business has a fifty day moving average price of $85.36 and a 200-day moving average price of $77.83. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 54.60, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. During the same period in the previous year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC boosted its position in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after acquiring an additional 5,298 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in Planet Fitness during the third quarter valued at $775,000. Banco Santander S.A. bought a new position in Planet Fitness during the third quarter valued at $637,000. Fifth Third Bancorp grew its stake in shares of Planet Fitness by 60.2% in the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after buying an additional 72,131 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.