Planet Fitness (NYSE:PLNT) Shares Gap Up – Should You Buy?

Planet Fitness, Inc. (NYSE:PLNT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $109.88, but opened at $113.18. Planet Fitness shares last traded at $110.3410, with a volume of 227,148 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLNT. Royal Bank Of Canada reissued an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a report on Tuesday, December 9th. Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday. Stifel Nicolaus lifted their price objective on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, Morgan Stanley upped their target price on Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.92.

Planet Fitness Stock Performance

The company has a market cap of $9.21 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 2.44 and a beta of 1.28. The business has a fifty day moving average price of $102.24 and a 200 day moving average price of $104.49.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The firm had revenue of $330.35 million for the quarter, compared to analysts’ expectations of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $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, Inc. will post 2.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Planet Fitness by 62.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after acquiring an additional 1,268,262 shares during the period. Norges Bank bought a new position in Planet Fitness during the 2nd quarter worth approximately $116,175,000. Ninety One UK Ltd lifted its position in shares of Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock worth $314,490,000 after purchasing an additional 759,227 shares during the period. Junto Capital Management LP bought a new stake in shares of Planet Fitness in the 3rd quarter valued at $73,603,000. Finally, Squarepoint Ops LLC increased its position in shares of Planet Fitness by 152.8% during the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after buying an additional 514,876 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.