Macquarie Issues Pessimistic Forecast for Planet Fitness (NYSE:PLNT) Stock Price

Planet Fitness (NYSE:PLNT) had its price target dropped by equities researchers at Macquarie from $112.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s target price points to a potential upside of 9.90% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. UBS Group restated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Stifel Nicolaus boosted their price target on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Planet Fitness currently has an average rating of “Buy” and a consensus price target of $122.27.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $90.99 on Thursday. The business has a fifty day simple moving average of $105.23 and a two-hundred day simple moving average of $103.71. Planet Fitness has a 1 year low of $87.72 and a 1 year high of $114.47. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 1.53 and a beta of 1.27.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in shares of Planet Fitness by 31.1% in the 4th quarter. M&T Bank Corp now owns 4,450 shares of the company’s stock valued at $483,000 after purchasing an additional 1,055 shares in the last quarter. Nippon Life Global Investors Americas Inc. raised its holdings in shares of Planet Fitness by 510.2% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 32,400 shares of the company’s stock worth $3,514,000 after buying an additional 27,090 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $529,000. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of Planet Fitness by 6.5% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 135,589 shares of the company’s stock worth $14,706,000 after buying an additional 8,333 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new stake in Planet Fitness in the fourth quarter valued at about $2,611,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.