Planet Fitness (NYSE:PLNT) Hits New 1-Year Low – Time to Sell?

Shares of Planet Fitness, Inc. (NYSE:PLNT) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $69.10 and last traded at $69.9540, with a volume of 24941 shares changing hands. The stock had previously closed at $70.40.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PLNT shares. Royal Bank Of Canada dropped their target price on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Planet Fitness from $115.00 to $98.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Macquarie Infrastructure dropped their target price on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Finally, KeyCorp started coverage on shares of Planet Fitness in a report on Thursday, March 12th. They issued an “overweight” rating and a $100.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.08.

Planet Fitness Price Performance

The firm’s fifty day moving average price is $80.35 and its two-hundred day moving average price is $94.40. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds and other institutional investors have recently made changes to their positions in PLNT. Goldman Sachs Group Inc. increased its position in shares of Planet Fitness by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after acquiring an additional 24,981 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Planet Fitness during the first quarter worth about $1,891,000. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 214 shares in the last quarter. First Trust Advisors LP increased its position in shares of Planet Fitness by 25.8% during the second quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock worth $15,560,000 after acquiring an additional 29,305 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Planet Fitness during the second quarter worth about $267,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Company Profile

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.