Planet Fitness, Inc. (NYSE:PLNT) Given Average Rating of “Buy” by Analysts

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been given an average rating of “Buy” by the fifteen research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $123.1818.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Morgan Stanley raised their price target on shares of Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Royal Bank Of Canada restated an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a report on Tuesday, December 9th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, January 14th. Finally, Guggenheim raised Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th.

Planet Fitness Stock Performance

PLNT stock opened at $94.34 on Friday. The business has a 50-day simple moving average of $106.52 and a two-hundred day simple moving average of $104.28. The company has a market capitalization of $7.86 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. Planet Fitness has a 52-week low of $87.72 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, sell-side analysts forecast that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently added to or reduced their stakes in PLNT. Game Plan Financial Advisors LLC purchased a new position in shares of Planet Fitness during the 2nd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in Planet Fitness during the fourth quarter valued at $27,000. Hantz Financial Services Inc. boosted its stake in Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the period. EverSource Wealth Advisors LLC grew its position in Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after buying an additional 214 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in Planet Fitness by 6,950.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after acquiring an additional 417 shares during 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.