Planet Fitness (NYSE:PLNT) Hits New 52-Week Low – Here’s Why

Planet Fitness, Inc. (NYSE:PLNT)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $87.50 and last traded at $87.7780, with a volume of 416820 shares changing hands. The stock had previously closed at $92.07.

Analyst Ratings Changes

Several equities analysts recently issued reports on PLNT shares. UBS Group reissued a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Morgan Stanley raised their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, January 14th. Macquarie Infrastructure decreased their price target on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Finally, Stifel Nicolaus raised their price target on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Planet Fitness currently has an average rating of “Buy” and a consensus target price of $122.27.

Planet Fitness Stock Down 3.9%

The stock’s 50-day moving average price is $102.24 and its 200-day moving average price is $102.55. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Institutional Investors Weigh In On Planet Fitness

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