Morgan Stanley Cuts Planet Fitness (NYSE:PLNT) Price Target to $117.00

Planet Fitness (NYSE:PLNT) had its target price reduced by Morgan Stanley from $128.00 to $117.00 in a research report released on Thursday,MarketScreener reports. They currently have an overweight rating on the stock.

PLNT has been the topic of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Piper Sandler cut Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Planet Fitness in a research note on Tuesday. Canaccord Genuity Group lifted their target price on Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.58.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $82.34 on Thursday. The stock has a market cap of $6.86 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The business’s fifty day moving average is $97.15 and its 200-day moving average is $100.86. Planet Fitness has a 1 year low of $79.18 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $376.26 million during the quarter, compared to the consensus estimate of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Equities research analysts predict that Planet Fitness will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Coastline Complete Wealth LLC acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $2,815,000. Pacer Advisors Inc. boosted its position in Planet Fitness by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 13,073 shares of the company’s stock valued at $1,418,000 after purchasing an additional 2,013 shares during the last quarter. Virtu Financial LLC acquired a new stake in Planet Fitness in the 4th quarter valued at about $663,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Planet Fitness by 1.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after purchasing an additional 149,503 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Planet Fitness by 87.4% during the fourth quarter. Corient Private Wealth LLC now owns 9,347 shares of the company’s stock worth $1,014,000 after purchasing an additional 4,360 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

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.