Royal Bank Of Canada Cuts Planet Fitness (NYSE:PLNT) Price Target to $60.00

Planet Fitness (NYSE:PLNT) had its price objective cut by Royal Bank Of Canada from $65.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on PLNT. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Zacks Research raised shares of Planet Fitness from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Planet Fitness in a research note on Monday, September 14th. Raymond James Financial reiterated a “strong-buy” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Friday, August 7th. Finally, Morgan Stanley boosted their target price on shares of Planet Fitness from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.34.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $43.17 on Monday. The business’s 50 day simple moving average is $49.30 and its two-hundred day simple moving average is $55.39. The firm has a market cap of $3.26 billion, a P/E ratio of 14.63, a PEG ratio of 0.91 and a beta of 1.05. Planet Fitness has a 52-week low of $37.03 and a 52-week high of $114.26.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The firm had revenue of $365.22 million during the quarter, compared to analysts’ expectations of $356.21 million. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, equities analysts forecast that Planet Fitness will post 3.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Planet Fitness news, COO William Bode sold 7,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $51.22, for a total transaction of $358,540.00. Following the transaction, the chief operating officer directly owned 32,939 shares in the company, valued at approximately $1,687,135.58. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Spinelli, Jr. acquired 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the acquisition, the director directly owned 45,516 shares in the company, valued at approximately $2,243,028.48. The trade was a 28.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Planet Fitness

Several institutional investors have recently made changes to their positions in PLNT. T. Rowe Price Investment Management Inc. boosted its holdings in 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 last quarter. Dimensional Fund Advisors LP increased its stake in Planet Fitness by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock valued at $92,091,000 after buying an additional 21,914 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in shares of Planet Fitness by 21.1% during the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock worth $73,697,000 after buying an additional 172,586 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Planet Fitness by 7.2% during the 1st quarter. Bank of America Corp DE now owns 779,251 shares of the company’s stock worth $57,961,000 after buying an additional 52,289 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Planet Fitness by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company’s stock worth $54,477,000 after buying an additional 13,089 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.