Brokerages Set Planet Fitness, Inc. (NYSE:PLNT) PT at $116.93

Planet Fitness, Inc. (NYSE:PLNT) has received an average rating of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $116.9286.

Several equities research analysts have recently weighed in on PLNT shares. Zacks Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Morgan Stanley restated an “overweight” rating and set a $117.00 target price on shares of Planet Fitness in a research report on Tuesday, March 10th. Wells Fargo & Company started coverage on Planet Fitness in a research note on Wednesday, March 11th. They issued an “overweight” rating and a $90.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th.

Planet Fitness Stock Performance

NYSE:PLNT opened at $73.99 on Friday. The company has a 50-day moving average of $89.68 and a 200-day moving average of $98.40. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.31 and a beta of 1.25. Planet Fitness has a 52 week low of $73.01 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business had revenue of $376.26 million for the quarter, compared to analysts’ expectations of $366.48 million. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Sell-side analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently made changes to their positions in PLNT. Goldman Sachs Group Inc. lifted its holdings in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after purchasing an additional 24,981 shares during the last quarter. Empowered Funds LLC bought a new stake in Planet Fitness during the first quarter worth about $1,891,000. Profund Advisors LLC acquired a new stake in shares of Planet Fitness during the second quarter worth approximately $212,000. ProShare Advisors LLC increased its holdings in shares of Planet Fitness by 3.7% during the second quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock worth $405,000 after buying an additional 132 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Planet Fitness by 27.7% in the second quarter. PNC Financial Services Group Inc. now owns 4,131 shares of the company’s stock valued at $450,000 after acquiring an additional 896 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.