Planet Fitness (NYSE:PLNT) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Planet Fitness (NYSE:PLNT) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Macquarie Infrastructure reduced their price objective on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Morgan Stanley cut their target price on Planet Fitness from $128.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. William Blair reaffirmed an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Royal Bank Of Canada dropped their price target on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.58.

Planet Fitness Trading Down 1.6%

NYSE PLNT opened at $81.50 on Monday. The business has a fifty day simple moving average of $95.42 and a 200 day simple moving average of $100.34. Planet Fitness has a 12 month low of $79.18 and a 12 month high of $114.47. The firm has a market capitalization of $6.79 billion, a P/E ratio of 31.11, a PEG ratio of 1.44 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $376.26 million during 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 revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, sell-side analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Trading of Planet Fitness

Several hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Planet Fitness during the 4th quarter worth $27,000. Hantz Financial Services Inc. increased its stake in shares of Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Planet Fitness by 135.9% in the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Planet Fitness during the 4th quarter valued at approximately $41,000. 95.53% of the stock is currently 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.