Stifel Nicolaus Lowers Planet Fitness (NYSE:PLNT) Price Target to $90.00

Planet Fitness (NYSE:PLNT) had its target price decreased by investment analysts at Stifel Nicolaus from $105.00 to $90.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 29.23% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Morgan Stanley restated an “overweight” rating and set a $117.00 price target on shares of Planet Fitness in a research report on Tuesday, March 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Finally, William Blair restated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $114.92.

Planet Fitness Trading Up 0.8%

PLNT opened at $69.64 on Friday. The firm has a market capitalization of $5.57 billion, a PE ratio of 26.58, a PEG ratio of 1.20 and a beta of 1.31. Planet Fitness has a twelve month low of $67.82 and a twelve month high of $114.47. The firm’s 50-day moving average price is $77.18 and its 200 day moving average price is $92.77.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Planet Fitness’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, analysts predict that Planet Fitness will post 3.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC lifted its holdings in shares of Planet Fitness by 25.6% in the 1st quarter. MeadowBrook Investment Advisors LLC now owns 3,430 shares of the company’s stock worth $255,000 after acquiring an additional 700 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Planet Fitness in the 1st quarter worth approximately $659,000. ABN AMRO Bank N.V. lifted its holdings in shares of Planet Fitness by 36.9% in the 1st quarter. ABN AMRO Bank N.V. now owns 164,797 shares of the company’s stock worth $12,395,000 after acquiring an additional 44,404 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Planet Fitness in the 1st quarter worth approximately $1,793,000. Finally, OP Asset Management Ltd acquired a new position in shares of Planet Fitness in the 1st quarter worth approximately $852,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.